Overview
- Digi Spain began trading in Madrid after an IPO that opened about 7% higher, signalling strong investor demand for the company’s low‑cost telecom model.
- The transaction combined a €150 million capital increase via 26.8 million new shares and a €137 million sale of 24.5 million existing shares by parent Digi Communications, leaving the parent with roughly an 80% stake.
- The offer was about four times oversubscribed, attracted roughly 50 institutional funds and secured a €100 million anchor commitment from Global Portfolio Investments for roughly a 6% holding.
- Digi said most net proceeds will finance its ‘Smart Footprint’ fiber‑to‑home deployments and mobile network build‑out, and it set 2026 targets of €1,040–1,085 million in revenue, around €400 million of investment and an adjusted EBITDA margin in the low‑20% range while deferring dividends until at least 2030.
- Regulators approved a 20% free float instead of 25%, Barclays holds a 15% over‑allotment option that could lift deal proceeds toward €330 million, and management left open a possible sale of an extra 5% within one to two years as the firm scales its network and local jobs after growing to more than 11 million customers.