The telecom operator Digi Spain has taken the final step toward its initial public offering (IPO) after receiving approval from the National Securities Market Commission (CNMV) for its IPO prospectus.
The offering will allow the Spanish subsidiary of the Digi Group to raise up to €330 million ($376m) including the over-allotment option, and represents one of the largest IPOs in Spain’s telecommunications sector in recent years.
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Digi's IPO values the company at around €1.66 billion ($1.9bn).
The placement process began on July 10 with the opening of the order book, and the shares are scheduled to begin trading on the stock exchanges in Madrid, Barcelona, Bilbao, and Valencia on July 16.
