Refresco Gerber announced its IPO last month

Refresco Gerber announced its IPO last month

Co-ordinators of the recent IPO undertaken by soft drinks bottler Refresco Gerber have bought more shares in the company under an over-allotment option.

The announcement follows the company’s listing on the Euronext Amsterdam exchange on 27 March, which raised about EUR548m (US$596.1m) and implied a market capitalisation of EUR1.2bn. Under the terms of the deal, joint global co-ordinators JP Morgan Securities and Credit Suisse Securities have now partly exercised their over-allotment option, acquiring an extra 1.1m shares at EUR14.50 each, making the transaction worth just over EUR15.3m.

As a result, the total number of offered shares under the IPO represents a free float of 47.9%, with existing shareholders retaining 52.1% of the company.

Refresco Gerber announced the IPO in March this year as a preferred method to create a "new capital structure" to fund growth plans.