The first IPO of the year is valued at up to over €3 billion
Spanish-headquartered travel technology firm HBX Group has received enough demand from investors for all the shares in its initial public offering within hours after after it opened.
Just yesterday the firm shared it intended to raise €725 million as it launches its IPO on the Spanish stock exchanges with a price range of €10.50-12.50 per share.
Demand since then has seen all shares offered on the exhange covred by investors
The demand also covered the so-called ‘greenshoe option’, an additional number of shares potentially offered to investors if the demand were strong enough.
The move has seen the whole company gain a market value of up to over €3 billion.
It’s been reported that this has been on the cards for a while for the private equity-owned company
HBX Group would be the first to launch a European IPO this year, with the move set to be the largest listing in Europe.
The company have said existing shareholders intend to sell existing shares worth about €25 million combined. This includes private equity firms Cinven and EQT.
Its expected to have its first day of trading on the Spanish stock market on February 13, 2025.
