Digi Spain IPO backed by Domínguez family targets up to €1.7 bn valuation

Romanian telecom group Digi Communications is preparing an initial public offering for its Spanish subsidiary, Digi Spain, on the Madrid, Barcelona, Bilbao and Valencia exchanges. The float is expected to value the business at up to €1.7 billion and will involve the issuance of about €150 million of new shares. An anchor commitment of €100 million has been made by Global Portfolio Investments, the investment vehicle of the Domínguez de la Maza family, owners of the Mayoral textile group.

Digi Romania, the sole shareholder, will retain at least 75 % of Digi Spain after the listing, while the net proceeds of roughly €136 million are earmarked for expanding the company’s fibre‑to‑the‑home network and launching its own mobile infrastructure. The IPO comes as Spain’s telecom market consolidates around three major players – Telefónica, Vodafone Spain and the newly formed MásOrange – intensifying price competition.

Recent group figures show first‑quarter 2026 revenue of €582.6 million (up 10 % YoY) and adjusted EBITDA of €161.2 million (up 15 %), but a net loss of €14.5 million, highlighting the cost pressures of rapid European expansion.