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IPO values Blackstone's gambling co Cirsa at 2.52 bln euros
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IPO values Blackstone's gambling co Cirsa at 2.52 bln euros
Jul 7, 2025 9:16 AM

MADRID, July 7 (Reuters) - Blackstone'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.

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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