Digi Spain Telecom has priced its initial public offering at €5.60 per share, giving the telecommunications operator a market capitalisation of roughly €1.66 billion as it prepares to list on Spanish exchanges.
The company plans to float 25% of its capital in a deal structured entirely for institutional investors, comprising a €150 million primary offering and a €137 million secondary sale. Global Portfolio Investments has committed €100 million as an anchor investor, and an over-allotment option could raise total proceeds to as much as €330 million.
Trading under the ticker DIGIS is scheduled to begin on 16 July across the Madrid, Barcelona, Bilbao, and Valencia bourses, following prospectus approval by Spain's securities regulator on Wednesday. The company does not expect to pay dividends before 2030.