Cirsa, HBX Group Said to Plan Spain IPOs for First Half of 2025
- First-time share sales could raise roughly €1 billion apiece
- Debuts would come as boost for Spanish capital markets
European markets have been volatile this year.
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Casino operator Cirsa Enterprises and travel technology firm HBX Group are preparing to launch initial public offerings in Spain as soon as the first half of next year, according to people familiar with the matter.
Cirsa, owned by Blackstone Inc., is lining up a share sale that could raise as much as €1 billion ($1.1 billion), said the people, who asked not to be identified discussing private information. HBX Group, known for its Hotelbeds brand and backed by buyout group Cinven and the Canada Pension Plan Investment Board, has penciled in an IPO for as soon as the first quarter that could raise around €1 billion or more, the people said.