Partial Stock Offering for Cosentino?

MADRID — Spanish surfaces company Cosentino Group is looking at issuing an stock offering later this year for a partial stake in the company, according to a Spanish financial publication.

Expansión reported earlier this month that the family-held firm hired the investment banking firms Goldman Sachs and JPMorgan as “global coordinators” for an offering that might come as this summer.

The publication estimated that Cosentino’s total value could exceed €3 billion at the time of the offering, depending on the company’s financial performance in 2022.

Cosentino Group is wholly owned by three brothers of the Martinez-Cosentino Justo family. Expansión cited sources that the family would maintain majority control of the company and offer a minority stake.

If Cosentino goes ahead with a public offering, it would be the largest one in Spain in two years, according to Expansión.

The publication noted that key details would need to be worked out before an offering. A likely scenario would involve major investment groups, although there could be a small part for individual investors.

Cosentino’s main business is surfaces, with natural stone, Silestone® quartz and Dekton® ultra-compact products. The company also has a number of real-estate holdings in Spain.