Fidelidade to float on Euronext in 2027

Portugal’s largest insurance company, Fidelidade, is planning to float on the Euronext Lisbon stock exchange in 2027.

The company, which is part-owned buy the Chinese holding Fosun, believes that it is worth €3Bn.

The insurer has been in discussions with potential investors about the prospect of a future Initial Public Offer (IPO).

However, it has not yet appointed representatives to assist it in both valuation or preparations for the possible listing, but the idea is to float shares at the start of next year.

According to Bloomberg, discussions are still at a preliminary phase and might not result in Fidelidade joining the stock market.

Neither Fidelidade nor Fosun are issuing any public statements on the issue for the time being.

Fosun paid €1Bn in 2014 for an 80% share in Fidelidade and now holds around 85%. The remaining 15% is in the hands of Portuguese State-run bank Caixa Geral de Depósitos (CGD).

Source: ECO Online

Image: Fidelidade