Digi Spain sets IPO price at €5.60, valuation at €1.662B

Digi Spain Telecom has fixed its initial public offering (IPO) price at €5.60 per share, giving the company a market capitalisation of approximately €1.662 billion. The offering, comprising primary and secondary tranches, is expected to raise up to €330 million and is pending approval from Spain's market regulator (CNMV) Source: La Vanguardia.

IPO Details

The base offering includes 26.8 million new shares (tramo primario) worth about €150 million and 24.5 million existing shares (tramo secundario) worth about €137 million, sold by sole shareholder Digi Romania. An overallotment option of 15% (up to 7.7 million shares) has been granted to Barclays Bank Source: Infobae. The proceeds will be used to expand Digi's fibre and mobile networks Source: El Español. Digi will retain at least 80% of the capital after the IPO Source: El Español. However, sources told El Confidencial that the valuation is lower than earlier estimates of €2,000–2,400 million, and the company aims to debut on July 16 Source: El Confidencial.

Investor Support

Digi has secured a €100 million anchor investment from Global Portfolio Investments, the investment vehicle of the Domínguez de la Maza family (owners of Mayoral) Source: La Vanguardia. The offering targets qualified investors only, with a minimum ticket of €100,000, and no retail tranche is planned Source: El Confidencial.