Apax Engages BofA and Morgan Stanley to Manage Idealista’s IPO

25 February 2020 – El Confidencial

Apax Partners has engaged Bank of America and Morgan Stanley to manage the stock market debut of the house sale and rental portal Idealista. If the market permits, the venture capital fund is hoping that the investment it made five years ago will be five times higher, according to El Confidencial.

Apax has chosen these two entities to handle the IPO following a restricted tender process in which various US and European banks participated. The fund wants to divest its shareholding (80%). The remaining 20% is owned by the brothers Fernando and Jesús Encinar and César Otieza, the founders of Idealista; they have not decided what to do with their shares yet, according to the same sources.

Original Story: El Confidencial

Translation/Summary: Carmel Drake