Digi Spain Telecom launches €1.66bn IPO on Spanish bourse

Digi Spain Telecom will debut on the Spanish stock exchange on 16 July 2024, pricing shares at €5.60 each and valuing the company at roughly €1.662 billion. The offering combines a primary tranche of about €150 million (new shares) and a secondary tranche of €137 million of existing shares from Digi Romania, with an overall option to raise up to €330 million. The shares will trade under the ticker “DIGIS” and a 100 million‑euro anchor investment from Global Portfolio Investments will support the float, which could reach a 25 % free‑float level while Digi Romania, the sole shareholder of the Spanish unit, retains at least 75 % control.

Proceeds from the primary tranche, estimated at €134‑€136 million net, are earmarked for expanding Digi’s fiber‑to‑the‑home footprint, deploying its own mobile network and related sharing agreements. The company does not plan dividend payments before 2030, focusing instead on reinvesting cash to fund further infrastructure growth. Digi Spain, now the fourth telecom operator in Spain with 11.4 million customers, has projected 2026 revenues of €1.04‑€1.085 billion, up from €929 million in 2025. Investors note the firm’s strong cash generation but remain cautious about its debt load and the governance of its Romanian parent, which has faced past allegations of misconduct.