The country’s state holding company, Parpública, has said it has sold off its remaining 31.5% stake in CTT Group, or just over 47.2m shares.
The sale raised EUR 343m at the going rate of EUR 7.25 per share.
It has meant that the Portuguese government has made a total of EUR 909.2m from the flotation of the company.
The first phase of the sale came in an IPO back in December 2013, when a 70% stake of the company — 105m shares — was sold for about EUR 580m. This included a 60% stake sold to institutional investors, with 5% offered to workers at a discount rate.
This second phase came after the government’s pledge of holding on to part of CTT Group ran out in August.
Parpública said the second phase saw an accelerated book building process for shares to be sold to international investors.
Source: Post&Parcel/Parpública