Catalan casino group Cirsa debuts on stock market with €2.52bn valuation
Company celebrates first-day expecting "an upward trend" after recording rises of up to 6%
The Catalan casino group Cirsa made its debut on the stock market on Wednesday, with a valuation of €2.52 billion – €15 per share. The starting price quickly rose by 6% in the first minutes after the bell rang.
The gaming multinational, based in Terrassa, is bringing to fruition years of efforts to list publicly.
The company offered 26.6 million new shares with the idea of reducing their debt and "generate the maximum value" for its clients and stockholders to be able to "better compete in a globalized world," president Joaquim Agut, said on Wednesday after the bell.
Cirsa debuted on the stock exchanges of Barcelona, Madrid, Bilbao, and Valencia, and became the second Catalan business to go public in the past 14 months, following Puig's IPO in early May 2024.
The perfumery and cosmetics giant's listing was the largest market debut in Europe last year.
Among the major investors, Agut said there had been over 250 international investors, there are BlackRock, Santander and Norges. "There has been a lot of interest," Agut added.
The company was founded in Terrassa back in 1978 and currently operates 450 casinos and gambling sites across 11 countries, with over 85,000 slot machines.
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