IPO values Blackstone's gambling co Cirsa at 2.5 billion euros
's gambling company Cirsa confirmed on Monday the share price of 15 euros ($17.60) in an oversubscribed initial public offering that floats at least 18% of the
capital
and values the whole company at 2.52 billion euros.
The IPO, whose terms were announced on June 30, is the first in Spain since travel tech company HBX Group raised 725 million euros in February in a deal that valued it at 2.84 billion euros at the time.
Cirsa operates casinos and gambling platforms in Spain - where it is the largest casino operator - Italy and Morocco, as well as in Latin America. It entered Portugal and Puerto Rico last year.
The maximum offering size, including the over-allotment option, which if exercised in full would take the free float to 20.7%, was set at 521 million euros, or 34.8 million
shares
, the company said in a regulatory filing.
Cirsa expects its shares to be listed and start trading on the Spanish
stock market
on July 9.
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One of the bookrunners, who include BBVA, Jefferies, Mediobanca, Societe Generale and UBS, said last week the books were multiple times oversubscribed. ($1 = 0.8522 euros)
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