Alantra advises Línea Directa on its IPO


ServiceEquity Capital Markets

Apr 2021

Madrid Alantra, the global investment banking and asset management specialist, has advised Bankinter and Línea Directa on the direct listing of Línea Directa on the main market of the Spanish Stock Exchange. Línea Directa is a leading company in direct insurance in Spain, operating in the motor, home, and health insurance segments. Linea Directa went public on the 29th of April with a share price of €1.3175 and a market cap of €1.4 billion.

Alantra has advised both Bankinter and Línea Directa during the direct listing process and has carried out an extensive investor education process for Bankinter’s current shareholder base and new investors, with the objective of increasing the visibility of Línea Directa in the capital markets scene and maximizing its share price performance and liquidity post transaction. The Company’s share price rose by 22% on the first day of trading, with Línea Directa ending its first day as a listed company with a market cap of €1.8 billion.

“Alantra’s successful participation in this transaction highlights our unique research capabilities, our exceptional distribution reach with top investors in Iberia, the UK and Continental Europe, and our unique ECM structuring capabilities, with more than 25 transactions completed in Spain and Portugal since 2015. This has been the first IPO in Spain in 2021, and we expect it to be the beginning of a new phase in the Spanish equity capital markets, consolidating the IPO route as an alternative to finance the growth of Spanish corporates and the Spanish economy, as well as an alternative for corporates and their shareholders to crystalize the value of their investments.” Andre Pereira, Head of ECM Iberia

Linea Directa is a leading company in direct insurance in Spain. Founded in 1994, it operates in the Motor, Home and Health insurances. The Company closed the 2020 financial year with a premiums volume of €898.6 million, has more than 2,500 employees and serves more than 3.2 million clients.

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