Summary
- Cirsa aims for a $2.95 billion valuation with its upcoming IPO launch.
- The company is issuing 26,666,667 new shares.
- "There is also a green-shoe option available for purchasing additional shares."
Cirsa, a leading gambling company owned by Blackstone, aims to achieve an estimated valuation of €2.5 billion ($2.95 billion) with its initial public offering in Spain this year.
Cirsa seeks to boost its valuation, raise capital to spearhead growth
The company plans to offer up to €400 million in shares, as confirmed by its bookrunners on Monday and initially reported by Reuters. The bookrunners involved are BBVA, Jefferies, Mediobanca, Société Générale, and UBS. Cirsa will release 26,666,667 newly-issued shares, priced at €15 each, equivalent to approximately $17.69, according to documents seen by the media. Additionally, Cirsa might issue an extra €68 million ($80.18 million) in shares through a green-shoe option if there is enough demand to support it. Cirsa is recognized as a leading global gaming company, managing gambling and casino platforms in competitive international markets, including its home country of Spain, as well as Italy, Morocco, Puerto Rico, Portugal, and throughout Latin America. The company is exploring new opportunities and aims to fund its growth by expanding its financial resources. As previously mentioned, Cirsa seeks to raise up to €460 million by listing on four Spanish stock exchanges simultaneously.
