CIRSA has confirmed the share price for its pending initial public offering (IPO), with the start date for commencement of trading also set in stone.
The operator’s offering price will be €15 per share, leaving the company seeking a valuation of €2.5bn (£2.2bn).
CIRSA’s shares will be admitted to trading on the Barcelona, Bilbao, Madrid and Valencia stock exchanges, as per its IPO plans.
Under the ‘CIRSA’ ticker symbol, the company expects to start trading on the various exchanges on 9 July 2025.
The offering will see the operator float 30.2 million shares with a value of €453m.
The primary offering will consist of 26.6 million shares, equivalent to €400m. A secondary offering of 3.5 million shares will follow, valued at €53m.
An overallotment option remains in place for an additional 4.5 million shares, meaning the maximum size of the offering could reach 34.8 million shares worth €521m.
The IPO will also consist of an institutional offering to investors inside and outside of Spain, with a special placement earmarked for the US to “persons reasonably believed to be qualified institutional buyers”.
After completing the IPO, the free float will account for around 18% of CIRSA’s share capital. The figure increases to 20.7% if the overallotment option is exercised.
Joaquim Agut, CIRSA executive chair, said: “Today marks the start of a new and important chapter in CIRSA’s history.
“The strong global investor interest and robust demand for the IPO underscore the exciting opportunities that lie ahead for Cirsa.
“We look forward to the bell ringing ceremony at the Barcelona Stock Exchange, and to welcoming our new shareholders.”
CIRSA CEO Antonio Hostench added: “Following two decades of successful expansion, CIRSA is now poised to advance its strategy for the benefit of our current, new and future shareholders.
“With compelling growth opportunities ahead, we are confident that CIRSA is perfectly positioned to seize them.”
Barclays, Deutsche Bank and Morgan Stanley are acting as the joint global coordinators for the IPO, with Lazard Asesores Financieros serving as CIRSA’s sole financial advisers.
The post CIRSA finalises date and share price for IPO first appeared on EGR Intel.
Operator confirms €15-per-share valuation, with trading on various Spanish stock exchanges set to commence on 9 July
The post CIRSA finalises date and share price for IPO first appeared on EGR Intel.