Digi Spain sets IPO price for €280M offering at €1.66B valuation
What's the deal? Digi Spain Telecom has priced its initial public offering at €5.60 per share, valuing the Spanish subsidiary at roughly €1.662 billion after the capital increase. The offering covers 58,995,000 ordinary shares — a primary tranche of new stock worth about €150 million and a secondary tranche of existing shares worth about €137 million, totalling €280 million.
Who's selling? The secondary shares come from Digi RomaniaDealroom has a profile for this one. Try Dealroom →, the subsidiary's sole shareholder. Parent Digi CommunicationsDealroom has a profile for this one. Try Dealroom → said Digi Romania will keep at least 75% of Digi Spain after the offering, even if underwriters fully exercise their option to buy up to 7,695,000 additional shares to cover overallotments.
Why now? The listing follows an intention-to-list announcement on June 29, when Digi Spain had already secured a firm €100 million investment commitment from Global Portfolio InvestmentsDealroom has a profile for this one. Try Dealroom →, S.L. The pricing of €1.662 billion sits slightly below the €1.7 billion "pre-money" valuation cited in that earlier notice.
By the numbers: Digi's Spanish operations generated €251.6 million in revenue in the first quarter of 2026, up 16.2% year on year and about 43% of group consolidated revenue. Growth came from mobile, where revenue-generating units rose 21.5%, and fixed internet and data, up 30.4%; the smaller television segment grew more than fourfold from March 31, 2025.
What's the endgame? The listing would mark the second major capital-markets exercise for Digi, after the group had earlier weighed strategic options for its Spanish business. Shares are set to trade on the Barcelona, Bilbao, Madrid, and Valencia exchanges through the Mercado Continuo automated quotation system.
What could go wrong? The final decision to proceed and the admission timetable depend on market conditions and approval of the prospectus by Spain's Comisión Nacional del Mercado de Valores (CNMV). At the time of the report, the prospectus was still under review, and no date was given for completion or first trading.
The signal: Spain has become Digi's fastest-growing market, and carving it out as a separately listed entity lets the group tap fresh capital while keeping control. It is a rare instance of an emerging-market telecom floating a foreign subsidiary on Western European exchanges to fund expansion.
Read more: Ziarul Financiar
