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CTP is planning an IPO: Bloomberg
Posted on Friday, 16 October 2020 12:27
CTP is planning an initial public offering (IPO) that could value the Czech Republic-based industrial property developer at EUR 6.00 billion, people familiar with the matter told Bloomberg.

According to the sources, plans are still in the early stages and the group is in talks with potential advisors.

CTP is considering Amsterdam as a potential venue and could look at selling shares as soon as the first quarter of 2021, the insiders noted, asking not to be identified as the situation is still private.

Deliberations are still ongoing and details of the potential listing could change, the insiders said.

CTP is a full-service commercial real estate developer, building, managing and delivering custom-built, high-tech business parks throughout central and eastern Europe.

Founded in 1998, the company’s portfolio of industrial and office properties comprised over 5.80 million meters squared (m2) of leasable space as of the end of 2019.

CTP has benefited from an increase in online shopping during the coronavirus pandemic, which forced many people globally to stay home and order food, clothing and other items online.

At 30th June 2020, the group posted EUR 5.50 billion in gross asset value, 5.80 million m2 gross lettable area and EUR 152.70 million gross rental income for the six months to this date.

During the same timeframe, CTP generated total revenue of EUR 199.60 million, up from EUR 148.56 million in the corresponding period of 2019.

Total profit stood at EUR 99.43 million in H1 2020 (H1 2019: EUR 140.25 million).

Zephyr, the M&A database published by Bureau van Dijk, shows there have been three other companies based in the Czech Republic to announce IPOs in 2020 to date.

In the largest of these, firearms and tactical accessories manufacturer CZG - Ceska Zbrojovka Group raised CZK 812.00 million (USD 34.80 million) on the Prague Stock Exchange.

Pharmaceuticals retailer Pilulka Lekarny and mobile and web applications developer eMan have also announced plans to go public.

© Zephus Ltd