Fairness opinion provider
successfully supported IPO of
On 26 November 2020, Inclusio announced its IPO on Euronext Brussels. The company wants to raise 60 million EUR to further develop its activities and offers, as such, an answer to the increasing demand of investors to invest in socially relevant projects.
In the preparation to the IPO Clairfield Belgium and Walkiers & Wauthier were appointed as financial advisor and fairness opinion provider. In that role, they reviewed and optimized the appointment of the joint global coordinator Belfius and advised the company on among others the equity story, positioning of Inclusio and the capital structure (institutional vs retail investors). Both companies also provided input on the valuation and IPO pricing process, including the price range and the final issue price, based on the chosen structure and equity story.