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    1. Home
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    3. >Cirsa's Spanish IPO open to investors until July 7 in deal valuing it at nearly $3 billion
    Finance

    Cirsa's Spanish IPO Open to Investors Until July 7 in Deal Valuing It at Nearly $3 Billion

    Published by Global Banking & Finance Review®

    Posted on July 2, 2025

    2 min read

    Last updated: January 23, 2026

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    Tags:equityinvestmentfinancial marketsCapital Markets

    Quick Summary

    Cirsa launches a $3 billion IPO in Spain, open until July 7, with shares trading from July 9. The IPO includes a greenshoe option.

    Cirsa Launches Spanish IPO Valued at Nearly $3 Billion Until July 7

    MADRID (Reuters) -Blackstone's Spanish gambling company Cirsa opened its initial public offering to investors on Wednesday and will close it on July 7, a bookrunner said in a document seen by Reuters.

    The new shares in the company would be allocated to investors on July 7 and would start trading on the Spanish stock market on July 9.

    Cirsa seeks a valuation of 2.52 billion euros ($2.97 billion) in the IPO, it said on Monday.

    The casino operator expects the operation to be worth between 453 million euros and 521 million euros, including a so-called greenshoe option that allows it to float more shares if demand is strong enough and a secondary sale by existing shareholders, the bookrunner said.

    Bookrunners for the IPO include BBVA, Jefferies, Mediobanca, Societe Generale and UBS.

    Cirsa is controlled by U.S. private equity fund Blackstone and operates casinos and gambling platforms in Spain, where it is the largest casino operator, Italy, Morocco, as well as in Latin America. It entered Portugal and Puerto Rico last year.

    The IPO would be the first in Spain since travel tech company HBX Group raised 725 million euros in February in a deal that valued it at 2.84 billion euros at the time.

    ($1 = 0.8491 euros)

    (Reporting by Javi West Larrañaga; Editing by Inti Landauro and Joe Bavier)

    Key Takeaways

    • •Cirsa's IPO values the company at nearly $3 billion.
    • •The IPO is open to investors until July 7.
    • •Cirsa is Spain's largest casino operator.
    • •Bookrunners include BBVA, Jefferies, and UBS.
    • •The IPO includes a greenshoe option for more shares.

    Frequently Asked Questions about Cirsa's Spanish IPO open to investors until July 7 in deal valuing it at nearly $3 billion

    1When does Cirsa's IPO open and close for investors?

    Cirsa's IPO opened for investors on Wednesday and will close on July 7.

    2What is the expected valuation of Cirsa in the IPO?

    Cirsa seeks a valuation of 2.52 billion euros, which is approximately $2.97 billion.

    3
    Who are the bookrunners for Cirsa's IPO?

    The bookrunners for the IPO include BBVA, Jefferies, Mediobanca, Societe Generale, and UBS.

    4When will Cirsa's shares start trading on the stock market?

    Cirsa's shares are expected to start trading on the Spanish stock market on July 9.

    5What is the significance of the greenshoe option in this IPO?

    The greenshoe option allows Cirsa to float more shares if demand is strong, potentially increasing the total value of the IPO.

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