Spanish gaming giant Cirsa has revealed plans to launch a €460 million initial public offering (IPO) on the Barcelona, Bilbao, Madrid, and Valencia stock exchanges, aiming to strengthen its balance sheet and fuel future expansion.
The offering includes a €400 million primary share issuance to raise fresh capital and a €60 million secondary sale by LHMC Midco, which will cover tax and restructuring-related costs. The IPO is subject to market conditions and approval from Spain’s securities regulator, CNMV.
Cirsa, which operates in 11 countries across Europe, North Africa, and Latin America, plans to list its shares on Spain’s Automated Quotation System. The transaction will also feature an overallotment option granted by LHMC Midco to the Joint Global Coordinators.
Key financial goals of Cirsa
Approximately €375 million of the primary proceeds will go toward reducing debt and supporting growth.
Post-IPO, Cirsa targets a net leverage ratio of around 2.7x EBITDA by May 31, 2025.
The secondary sale will not generate cash for current or former management, who will instead hold their investments directly in the company.
CEO Antonio Hostench stated:
“This IPO marks a defining step in Cirsa’s evolution, offering the opportunity to launch new projects and consolidate our leadership in the gaming sector.”
Cirsa recently reported a 12.5% YoY revenue increase, reaching €576.7 million, highlighting strong momentum ahead of its public debut.
