Alantra Acts as Global Coordinator in the c.€42.4mn Placement of Clinica Baviera’s Shares

Apr 2025

Accelerated Bookbuilding

Value c. €42.4mn

Madrid – Alantra is pleased to announce the successful completion of the Accelerated Bookbuilding (ABB) of Clínica Baviera’s shares. Alantra acted as the sole Global Coordinator in the placement of 1,304,606 shares, representing 8% of the company’s share capital, at a price of €32.50 per share, raising a total of approximately €42.4mn. The shares were sold by Aier Eye, Clínica Baviera’s majority shareholder and a leading Chinese ophthalmology group, and Vito Gestión, the investment vehicle of the Baviera family.

The transaction attracted strong demand from Tier 1 institutional investors across multiple geographies, with 55% of the allocation going to the UK, followed by France (13%), Spain (13%), Italy (10%), and Germany (9%). The placement significantly increases Clínica Baviera’s free float to 20%, enhancing the stock’s liquidity and setting the stage for the company’s next phase as a listed entity.

André Pereira, Partner and Head of ECM at Alantra Equities, said: “We are pleased to have supported Clínica Baviera and its shareholders in this successful placement, which opens a new phase for Clinica Baviera as a listed entity on the back of the free float increase and the diversification of Baviera’s investor base. This transaction reflects the strong investor appetite for quality capital markets opportunities in the small and mid-cap space. With proper investor education and extensive marketing, high quality issuers like Clinica Baviera are capable of attracting capital at competitive prices. This was a joint effort with our Milan team, and a landmark transaction for Alantra, which actively engaged with over 50 investors to build a well-balanced book.” 

This transaction underscores Alantra’s momentum in advising on high-profile Equity Capital Markets transactions in Iberia. Recently, the firm acted as Co-Lead Manager for HBX Group’s IPO and Joint Bookrunner for Cox’s IPO on the Madrid Stock Exchange.