Finance
HBX Group poised to launch around $1bn IPO in coming weeks, sources say
Published by Global Banking and Finance Review
Posted on January 24, 2025
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Published by Global Banking and Finance Review
Posted on January 24, 2025
By Andres Gonzalez and Amy-Jo Crowley
LONDON (Reuters) -Spanish travel technology company HBX Group, whose brands include Hotelbeds, is preparing to launch a 1 billion euro ($1.04 billion) initial public offering in coming weeks, two people familiar with the matter said.
The private equity-owned firm has been planning an IPO for more than a year, Reuters has reported previously. It has been sounding out investors recently and could file its intention to float as soon as next week if the reception is positive, one of the people said. The people spoke on condition of anonymity because the discussions are private.
The company and its shareholders – which include private equity firms Cinven and EQT, as well as Canadian pension plan CPP Investments – have been considering listing on the Madrid exchange, Reuters reported previously.
HBX Group declined to comment.
The company would be the first to launch a European IPO this year, after a slight recovery in issuance last year. It comes at a time when analysts have been turning bullish on European equities.
Deutsche Bank and Citigroup issued positive reports on European shares this week, with analysts citing an improving political climate and strong corporate earnings bolstering the outlook for the year.
Last year, European companies raised $19.3 billion in IPOs, 18% more than in 2023, but from fewer issues, according to LSEG data.
($1 = 0.9648 euros)
(Reporting by Andres Gonzalez and Amy-Jo Crowley. Editing by Anousha Sakoui and Tomasz Janowski)