With a demand seven times higher than the supply, CIRSA will quote on the Spanish bags from tomorrow, July 9, to 15 euros the action. Indeed, CIRSA Enterprises, Sau (“CIRSA” or “The Society” and, together with its subsidiaries, the “group”), an international game platform with leadership positions in Spain, Portugal, Latin America, Morocco and Italy, confirms today the price of its IPO in 15 euros per share. The actions will be admitted to negotiation in the stock exchanges through the stock interconnection system (continuous market) and are planned to begin to quote under the “CIRSA” ticket on July 9, 2025.CIRSA Enterprises, SAU (“CIRSA” or “THE SOCIETY” and, together with its subsidia Portugal, Latin America, Morocco and Italy, confirms today the price of its IPO in 15 euros per share. The actions will be admitted to negotiation in the stock exchanges through the stock interconnection system (continuous market) and are planned to begin to quote under the “CIRSA” ticket on July 9, 2025.
Joaquim Agut, executive president of CIRSA, says: “Today marks the beginning of a new and important chapter in the history of CIRSA. The great interest shown by investors globally and the solid demand for supply underlines the interesting opportunities that are presented for the company. We look forward to the bell touch ceremony in the Barcelona Stock Exchange and welcome our new shareholders”.
For his part, Antonio Hostench, CEO of CIRSA, adds: “After two decades of successful expansion, CIRSA is now prepared to advance its strategy for the benefit of our shareholders, both current and new. With attractive growth opportunities ahead, we are sure that CIRSA is perfectly positioned to take advantage of them”.
CIRSA, by means of a statement, provides the key data of the offer:
As announced on June 30, the price of the offer is 15.00 euros per share, which implies a stock market capitalization for the company in the IPO of approximately 2,520 million euros, after the expansion of capital.
After the completion of the offer, the Free Float will be approximately 18.0% of the company’s share capital, increasing to 20.7% if the option of over -assignment is fully exercised.
The group, LHMC MIDCO, the directors and certain current and previous employees and managers of CIRSA have assumed certain commitments of “non-transmission” (Lock-up) with the placing banks for a period from today to 180 calendar days from the admission (in the case of the group and LHMC Midco) and 365 days from the admission (in the case of the counselors and certain current and certain employees and previous of CIRSA), in each case subject to certain exceptions or dispensation granted by most joint global coordinators.
The actions are expected to begin to quote on the Spanish bags under the “CIRSA” ticket on July 9, 2025.
Barclays Bank Ireland PLC, Deutsche Bank Aktiengesellschaft and Morgan Stanley Europe act as Joint Global Coordinators (collectively, the “Joint Global Coordinators”). Banco Bilbao Vizcaya Argentaria, SA (in collaboration with Oddo BHF), Jefferies GmbH, Mediacobanca – Banking Di Credit Finanziario, Spa, Société Générale and UBS Europe act as Joint Bookrunners (collectively, the “Joint Bookrunners” and collectively with the Joint Global Coordinators, the “insurers”). CAPITAL MARKETS ALANTRA, SV, SA, BTIG LIMITED, INCOME 4 BANCO, SA and ROTHSCHILD & CO MARTIN MAUREL act as co-lead managers (collectively, the “co-lead managers” and, together with the Joint Global Coordinators and the Joint Bookrunners, the “managers”).
Lazard Financial Advisors, SA acts as the only independent financial advisor of CIRSA and LHMC Midco. Simpson Thacher & Bartlett LLP and J&A Garrigues, SLP act as legal advisors of CIRSA. Linklaters, SLP acts as legal advisor to managers. Banco Bilbao Vizcaya Argentaria, SA acts as Banco Agent in the context of the offer.
The offer consists of an institutional offer to qualified investors in and outside Spain, including a placement in the United States to persons that are reasonably believed that they are qualified institutional buyers (“qibs”) as defined in rule 144a (“rule 144a”) of the Law of 1933 of the United States, as it has been modified (the “Law of Securities”), by virtue 144a or in accordance with another exemption or an operation not subject to the registration requirements of the Securities Law. The actions have not been or registered under the Law of Securities or under the laws of values of any State or other jurisdiction of the United States. The offer outside the United States will be made in accordance with Regulations S (“Regulation S”) of the Securities Law.
See chance 02/07/25.- CIRSA’s debut will take place on July 9
