CIRSA’s shares closed at €15 (£12.93) a piece yesterday, 9 July, on the operator’s first day as a publicly listed company.
The European- and Latam-focused firm had set a target price of €15, with the IPO giving the business a valuation of €2.5bn.
The firm’s stock performed well in early trading in Madrid, reaching as a high as €15.35 at one point.
CIRSA’s stock closed out the day’s trading at €15, matching its target price, and the stock has continued to trade around that level this morning, 10 July.
The operator is expecting to raise around €400m by going public, with net proceeds estimated to be €375m.
A secondary tranche of 3.5 million shares is also in the pipeline, which is hoped to raise €53m.
CIRSA’s IPO is the first listing in Spain since travel technology firm HBX Group went public in February, which has seen its stock slip 1.6% in value since then.
Speaking ahead of the IPO this week, CIRSA executive chair Joaquim Agut 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.”
The firm’s IPO is the second gambling industry IPO in recent weeks, with Swedish supplier Hacksaw Gaming debuting on the Nasdaq Stockholm in June.
Hacksaw had set a target price of SEK77 (£6) but finished its first day of trading down at SEK75.
The stock has reached as low as SEK74 since IPO, but is now trading around SEK75 again.
The post CIRSA’s shares close at set price target on first day of trading after IPO first appeared on EGR Intel.
Operator sees stock close at €15 after brief spike in early morning trading, with secondary share offering still due to come
The post CIRSA’s shares close at set price target on first day of trading after IPO first appeared on EGR Intel.