• Cirsa will list on the Spanish stock market on Wednesday, July 9
• The transaction seeks to raise the company's value to €2.52bn
• Cirsa is planning to float about 18% of the capital and values of the company at first

Blackstone’s gambling major, Cirsa, said on Monday, July 7, that the company is expecting the Initial Public Offering (IPO) to reach the previously cited valuation figure Cirsa announced plans to float on several Spanish stock market a little more than a week ago and has now said that its estimated target of €2.52bn is within reach, adding that its shares will trade for €15 starting on Wednesday, July 9.

Cirsa intends to float at least 18% of the capital and values of the company, but an over-allotment option could push the number to 20.7%. The transaction could bring in around €521m, the equivalent of 34.8m shares, with the initial amount set at €400m.

The deal is backed by major financial institutions that serve as the deal’s bookrunners, including Mediobanca, Société Générale, UBS, Jefferies, and BBVA. Cirsa is a major operator in Spain, but the company has similarly expanded in other markets and has a strong footprint in Italy, Morocco, Portugal, Puerto Rico, and across Latin America.

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