Spain Looks to Big Private Equity Deals to Kickstart IPO Market

Casino operator, travel tech firm among firms eyeing listings
Spanish economy relatively strong; IBEX 35 has outperformed

Casino operator Cirsa Enterprises is planning to launch an initial public offering in the first half of 2025. — Casino operator Cirsa Enterprises is planning to launch an initial public offering in the first half of 2025.
Source: Cirsa Enterprises

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By Pablo Mayo Cerqueiro and Macarena Munoz Montijano

November 26, 2024 at 12:51 PM UTC

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Bankers are pinning their hopes on a few large private equity-backed listings to rekindle Spain’s IPO market next year, after several candidates postponed plans to go public in recent months blaming tough market conditions.

Casino operator Cirsa Enterprises, owned by Blackstone Inc., and travel technology firm HBX Group, backed by Cinven and CPP Investments, are planning to launch their initial public offerings in the first half of 2025, which could raise in the range of €1 billion ($1.1 billion) each, Bloomberg has reported.