Gestamp's IPO opens with losses

What started as a family-owned sheet metal company is now a giant that works with most car manufacturers. Some 3.2 billion euros in shares have been placed on the stock market. At the time of closing this information the intraday losses are more than 7%, although they bottomed at more than 8%. Making a short-sighted diagnosis, the market understands that these shares are not that valuable, but that would be very imprudent on my part.

Gestamp had 2016 revenues of €7,549 million and is one of the top 100 suppliers to the industry, with 98 factories in 21 countries. Minority shareholders will be able to start bidding for their shares when Gestamp enters the secondary market. The outstanding capital is around one third of the company, with the Riberas family owning more than half of the capital.

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