Summary
- Cirsa is set to go public on the Spanish stock market on Wednesday, July 9.
- The transaction aims to increase the company's value to €2.52 billion.
- Cirsa plans to initially offer approximately 18% of its capital and company valuation.
On Monday, July 7, Blackstone's major gambling enterprise, Cirsa, announced its anticipated Initial Public Offering (IPO) could achieve its previously cited valuation. Just over a week after announcing its IPO plans on multiple Spanish stock markets, Cirsa stated that its target valuation of €2.52 billion is within reach. The company has set the share price at €15, effective Wednesday, July 9. Cirsa plans to float at least 18% of its capital and value, with an over-allotment option potentially increasing this figure to 20.7%. This transaction could generate approximately €521 million through the issuance of about 34.8 million shares, with an initial target of €400 million. The IPO is supported by leading financial institutions serving as bookrunners, including Mediobanca, Société Générale, UBS, Jefferies, and BBVA. Although Cirsa is a prominent operator in Spain, it has also expanded its presence significantly in Italy, Morocco, Portugal, Puerto Rico, and across Latin America.
