Cepsa will return to Spanish market with 8 billion euro valuation

Cepsa will return to Spanish market with 8 billion euro valuation
FILE PHOTO: A Cepsa pump is seen during Expo AutoGas, a liquefied petroleum gas (LPG) fair, in Madrid, Spain, June 15, 2018. REUTERS/Susana Vera -
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MADRID (Reuters) - Abu Dhabi state investor Mubadala [MUDEV.UL] aims to value Spanish oil major Cepsa at up to 8 billion euros (7.12 billion pounds) after setting the price range for the company's initial public offering, according to the prospectus filed on Tuesday.

Mubadala announced plans to float Cepsa on the Madrid stock exchange two weeks ago, putting it on track for a listing in late October. The final share price is expected be set on October 16, with the floating taking place two days later.

The Abu Dhabi investor is expected raise around 2 billion euros with the sale of a 25 per cent stake, taking into account the highest price from a range of between 13.1 euros to 15.1 euros per share.

The floatation also includes an over-allotment option of a 3.75 per cent to the joint-global coordinators of the issue.

If completely exercised, Mubadala would additionally raise 300 million euros.

(Reporting by Andres González; editing by Jesús Aguado and Louise Heavens)

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