Euronext, the operator of the Paris, Amsterdam, Brussels and Dublin stock exchanges, has launched an offer of 5,500 million euros for the Spanish platform Allfunds, specialized in technological investment management and based in both Madrid and the United Kingdom.
After the presentation of the proposal, the shares of Allfunds, which is listed precisely on the Euronext markets, have risen close to 18%, reaching a value close to 5,400 million euros. This 'wealthtech', which is how this type of company is known, now has a value that would place it in the middle of an Ibex company and would be by far the largest unicorn of Spanish origin, ahead of Cabify or Glovo.
"The indicative offer is conditioned, among other things, on reaching an agreement with the current main shareholders of Allfunds," Euronext said in a statement. The company's two largest shareholders are the Hellman Fund
The operation would be articulated through a takeover bid, so that this price would be offered to all the shareholders of the company. The titles are valued at 8.75 euros, a value somewhat above the 8.58 euros at which the shares are listed.
Allfunds is founded and chief executive by Juan Alcaraz, who comes from Santander, where he managed investment firms and was CEO of Santander Asset Management. Another of the co-founders belonging to senior management is Borja Largo, also with experience at Santander. He is accompanied by Luis Carmona, the technology manager, from Bankia, now CaixaBank.
Allfunds employs around 1,300 people and has aroused interest from other stock traders such as Germany's Deutsche Boerse. The assets that in one way or another circulate through the funds to which it provides technological assistance are around 1.3 trillion euros.
