The company is pleased to announce that its share offering, aimed at qualified investors, the prospectus for which was approved by the CNMV, the Spanish securities commission, on 14th April, has been fully subscribed, having set, in cooperation with the banks responsible for the operation, a price of €2.74 per share.
Through this operation 54,744,525 shares in the company will be issued, representing 33.30% of its equity capital after the offering (i.e. once the new shares have been issued). Moreover, the offering provides for a 'greenshoe' option at the disposal of the financial institutions involved in the operation, for 15% of the shares issued.
Revenue from the issue is to finance the company’s growth, including the identification of new business opportunities in accordance with its strategy. It will also help to improve the solidity of its balance sheet, helping the company to position itself with a clear advantage on the market when it comes to tendering for major new projects.
As Mikel Barandiaran, Dominion managing director, explained, “Today’s operation is not an end but a means, an important step to carry on growing, developing our potential and adding new companies and teams. Dominion has a vocation to be a pole of attraction in the consolidation process in the industry.”
Dominion, founded in 1999, has grown to become a global provider of multi-technical services and specialized engineering solutions. Dominion understands digitalization as the use of digital technologies in order to change business models. The core competence of the company is helping its customers to make their business processes more efficient, whether on a full outsourcing basis or through the application of specialized technology-based solutions.
Dominion conducts business through two operating segments: multi-technical services "Services" and specialized engineering solutions "Solutions"; and focuses on serving customers in three principal fields of activity: Telecommunications and Technology “T&T”, Industry and Renewable Energy.
The keys to Dominion’s Smart Innovation model are the following:
- Digitalization: digital technology is in Dominion’s DNA. Through a "one-stop-shop" approach, Dominion continuously seeks to integrate both internally-developed and externally-sourced technologies in order to develop new services and solutions that can add value for its customers.
- Diversification: 28 countries; > 1.000 customers; Services & Solutions and diverse fields of activity.
- Decentralization: Dominion concentrates its technological and sectorial expertise and process intelligence "upstream" within its management platforms, and is supported by a lean and agile Shared Services structure. Dominion has demonstrated a great capacity to integrate teams.
- Financial discipline: Dominion's management sets and enforces demanding performance targets that focus on strong cash flow generation, efficient working capital management and strict capex, research and development ("R&D") and merger and acquisition ("M&A") discipline.