Published by Global Banking & Finance Review®
Posted on February 13, 2025
1 min readLast updated: January 26, 2026
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HBX Group's shares fell 8.3% on their Madrid market debut, reducing its valuation from 2.84 billion euros. The IPO raised 860 million euros.
MADRID (Reuters) - Shares in Spanish travel technology company HBX Group plunged on their market debut on Thursday, erasing 236 million euros of its market value.
HBX Group, which owns the Hotelbeds brand, had priced its shares at 11.50 euros earlier in the week for a 2.84 billion euro ($2.96 billion) valuation, in one of the euro zone's first initial public offerings of the year.
The Madrid-listed shares, however, were down 8.3% at 10.54 euros by 0920 GMT while the blue-chip IBEX-35 index was unchanged.
The company buys hotel accommodation, car rental and other travel products at a wholesale level and offers them to retailers on its different internet platforms.
The IPO raised 860 million euros including an over-allotment option.
HBX shareholders include private equity firms Cinven and EQT, as well as Canada's CPP Investments. They all reduced their holdings through the IPO.
($1 = 0.9601 euros)
(Reporting by Inti Landauro; Editing by Emma Pinedo and David Goodman)
The article discusses the market debut of HBX Group and the decline in its share value.
Shareholders include private equity firms Cinven, EQT, and Canada's CPP Investments.
The IPO raised 860 million euros, including an over-allotment option.
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