(MENAFN- AFP) Spain's major global airport operator AENA will be floated on the Madrid stock market on Wednesday at 58 euros per share, valuing the company at 8.7 billion euros ($9.8 billion).
The final pricing for the listing, which was announced in a statement to the stock market regulator on Tuesday, came in at the very top of the 53-58 euros range set by the firm last week.
AENA, the world's biggest airport operator by passenger numbers, said the offer was almost five times over-subscribed.
The Spanish government plans to sell 49 percent of AENA, which returned to profit in 2013 after a massive overhaul.
AENA said it will initially float 44.55 percent of its shares, worth 3.9 billion euros, and could raise the listing to up to 49 percent of its stock.
AENA runs 46 airports and two heliports in Spain and another 15 airports in Latin America, the United States and Europe, including London's Luton airport.
Nearly 195.9 million passengers moved though its sites last year, a 4.5 percent increase over 2013.
Initially 21 percent of the public offering had been earmarked for three private-sector anchor investors -- Spanish infrastructure group Ferrovial, British investment fund TCI and Spain's Corporacion Financiera Alba fund -- and 28 percent of the operator to be listed on the stock market.
But the three firms had offered to come in at a lower price and the increase in AENA's valuation had edged them out of the operation.
The company reported a net profit of 596.7 million euros ($689.1 million) in 2013, emerging from a net loss of 63.5 million euros the previous year.
Results for 2014 are not yet available but AENA said its revenues rose 6.4 percent during the first nine months to 2.39 billion euros due to a rise in airport traffic as Spain's economy picked up and stronger sales from duty free shops.
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