The major logistics firm Logista has launched the biggest IPO campaign of 2014 after deciding not to go public six years ago after it was acquired by Imperial Tobacco. It is expected that the British company will be able to sell 100% of Logista eventually, but for now just 50% of the company for an estimated 1.15 billion euros.
This is the fifth IPO of the year and confirms that the Spanish economy is improving and investor appetite is waking up. Still, it looks like Imperial Tobacco, which has restructured its business to face falling tobacco sales, will wait to sell off the remaining 50% of Logista. The goal is clear: it wants to keep some control and make as much money as possible.