Blackstone’s Cirsa, a Spanish casino operator, plans to launch an initial public offering in Spain with the goal of raising 400 million euros ($459.3 million) to boost its growth strategy.
The gambling company intends to apply for its shares to be admitted for trading on Spanish stock exchanges, it said Wednesday. The move comes seven years after Cirsa’s acquisition by Blackstone.
The offering will also include a sale of existing shares valued at 60 million euros by Blackstone to settle taxes and other expenses. The transaction comprises a customary over-allotment option to the joint global coordinators of the IPO, it said.
The listing is subject to market conditions and regulatory approvals, the company said.
