Grupo CIRSA has delayed its long-awaited IPO once more, as private equity owner Blackstone waits for calm to return to global markets.
Blackstone was expected to list approximately €1bn [$1.08bn] of CIRSA shares on the Madrid Bolsa in April. However, the PE fund is reported to have blocked CIRSA’s Madrid debut due to global market uncertainties.
Though unconfirmed by Blackstone, Spanish business news source Expansión reports that Blackstone will move CIRSA’s public offering to a post-Easter period, most likely in H2, depending on favourable market conditions.
February and March have led to a downturn across all major stock markets due to President Trump imposing trade tariffs on Canada, China, and Mexico—25% on all goods and 10% on energy exports.
