AZ Capital advised Cellnex on the capital increase, with preferential subscription rights for current shareholders

Cellnex Telecom carried out a capital increase with preferential subscription rights in an amount of €7 billion. The proceeds from the capital increase will be used to bolster Cellnex’s own resources in order to continue supporting its expansion, in line with its
growth strategy in Europe. The share capital increase was implemented through the issuance and sale of approximately 193 million ordinary shares of the Company at a subscription price (nominal plus share premium) of €36.33 for each New Share. The effective amount of the capital increase was of c. €7 billion. The subscription price implies a discount of c.17% to TERP (theoretical ex-rights price) per New Share based on a closing trade price of €46.68.

AZ Capital

Advised in the sale of

Cellnex Telecom, S.A.



Technology, Media, and Telecom

MidCap Alliance