Clínica Baviera Increases Liquidity with €42.4m Share Placement

Deal News | Apr 04, 2025 | Finance Community ES 2 - Corporate M&A

Alantra has successfully coordinated the global placement of 1,304,606 shares of Clínica Baviera, amounting to approximately €42.4 million. The shares, representing 8% of Clínica Baviera's share capital, were sold at €32.50 per share. The placement was conducted on behalf of Aier Eye, the majority shareholder and a significant Chinese ophthalmological group, and Vito Gestión, the investment vehicle of the Baviera family. The transaction attracted strong demand from top institutional investors across various geographies, with a significant portion allocated to the UK, France, Spain, Italy, and Germany. This move significantly increases Clínica Baviera's free float to 20%, enhancing stock liquidity and paving the way for the company's next phase as a listed entity. Andrea Pereira, managing director of ECM at Alantra Equities, highlighted the transaction as indicative of investor appetite for high-quality capital opportunities in small to medium-sized markets. The Spanish and Italian Alantra teams collaborated extensively, reinforcing the company's strategic capabilities in European capital markets.

Sectors

Healthcare
Investment Banking

Geography

Spain – Clínica Baviera is based in Spain, and the transaction took place with significant involvement from the Spanish team of Alantra.
China – Aier Eye, the majority shareholder involved in the transaction, is a Chinese ophthalmological group, indicating the geographical reach of the shareholders.
Europe – The share placement attracted top-tier institutional investors from various European countries, including the UK, France, Italy, and Germany.

Industry

Healthcare – Clínica Baviera operates in the healthcare sector, specifically in ophthalmology, providing medical services and treatments.
Investment Banking – Alantra's role in coordinating the share placement situates it within the investment banking sector, focusing on equity capital markets (ECM) transactions.

Financials

€42.4 million – Total amount raised from the placement of 1,304,606 shares at €32.50 each.

Participants

Name	Role	Type	Description
Clínica Baviera	Target Company	Company	A Spanish ophthalmology clinic whose shares were placed in the market.
Alantra	Global Coordinator	Company	An investment bank acting as the global coordinator for the share placement.
Aier Eye	Selling Company	Company	A major Chinese ophthalmological group and majority shareholder in Clínica Baviera.
Vito Gestión	Selling Company	Company	The Baviera family's investment vehicle involved in the share sale.
Andrea Pereira	Managing Director of ECM at Alantra Equities	Person	Led the transaction demonstrating the firm’s abilities in managing European capital market activities.