MADRID, January 29, 2015 /PRNewswire/ --
- This announcement is an advertisement and does not constitute a prospectus or offering memorandum and nothing herein contains an offering of securities.
Grupo Isolux Corsán, S.A. ("Isolux" or the "Company") announces that it does not intend to pursue its proposed initial public offering of its Class A shares to qualified and institutional investors in the immediate future.
Despite positive feedback from analysts and investors to Isolux's value proposition as a leading specialized engineering, procurement and construction ("EPC") contractor and a concession-based infrastructure operator in fast growing economies, the Company believes that the preliminary valuation indications do not recognize the full potential of the Company's asset base at this time. Furthermore, since the Company does not require additional capital in the near term, it has elected to wait for more favorable conditions.
The Company continues to progress with its plan to become a public company and will continue to focus in developing its current strategy as a leading EPC contractor and concession operator.
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by the Company in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions.
Any securities referred to herein have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), and may not be offered or sold in the United States absent registration under or an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States.
SOURCE Isolux Corsán