Alantra acts as Co-Lead Manager in Neinor Homes’ €230mn capital increase

Jun 2025

Capital Increase

Value €230mn

Madrid – Alantra acted as Co-Lead Manager in the €230mn capital increase executed by Neinor Homes through an accelerated bookbuild offering (ABO). The transaction, representing approximately 20% of the company’s share capital, was priced at €15.25 per share, implying an 8% discount on the previous closing price.

The offering, launched to fund the acquisition of Aedas Homes and create a leading listed real estate developer in Spain, consisted of 15 million new shares and saw strong demand from institutional investors. The orderbook was oversubscribed multiple times, with demand reaching nearly six times the number of shares offered at the issue price.

Alantra played a key role in the execution of the transaction, supporting Neinor with extensive investor education across a broad marketing process and contributing significantly to the final orderbook.

André Pereira, Partner and Head of ECM at Alantra Equities, said: “It has been a pleasure to support Neinor Homes in this transformational transaction, which reinforces the company’s leading position as the #1 listed Spanish residential real estate development platform. This deal also underscores Alantra’s continued leadership in Iberian ECM, marking our fifth transaction executed in 2025.”

Alantra’s ECM activity in Iberia this year also includes the IPO of HBX Group, the ABB’s of Clinica Baviera and Making Science and the capital increase of OHLA. According to Bloomberg, Alantra is the #1 ECM House in Iberia in 2025 with 4 complete transactions.