Latest news with #Hotelbeds
Reuters
13-02-2025
- Business
- Reuters
Spanish travel technology group HBX slumps on market debut
MADRID, Feb 13 (Reuters) - Shares in Spanish travel technology company HBX Group ( opens new tab plunged on their market debut on Thursday, erasing 236 million euros of its market value. HBX Group, which owns the Hotelbeds brand, had priced its shares at 11.50 euros earlier in the week for a 2.84 billion euro ($2.96 billion) valuation, in one of the euro zone's first initial public offerings of the year. The Madrid-listed shares, however, were down 8.3% at 10.54 euros by 0920 GMT while the blue-chip IBEX-35 (.IBEX), opens new tab index was unchanged. The company buys hotel accommodation, car rental and other travel products at a wholesale level and offers them to retailers on its different internet platforms. The IPO raised 860 million euros including an over-allotment option. HBX shareholders include private equity firms Cinven and EQT ( opens new tab, as well as Canada's CPP Investments. They all reduced their holdings through the IPO. ($1 = 0.9601 euros)
Yahoo
31-01-2025
- Business
- Yahoo
Hotelbeds owner HBX Group sees demand covering all shares in 725 million euro IPO
MADRID (Reuters) - Demand from investors covered all the shares offered by Hotelbeds owner HBX Group in its initial public offering within hours, the bookrunner said on Friday, ahead of what is set to be the largest listing in Europe so far this year. The Spanish travel technology company said on Thursday it intended to raise 725 million euros ($752.6 million) by selling new shares that would start trading on the Spanish stock market on Feb. 13. The demand also covered the so-called 'greenshoe option', an additional number of shares potentially offered to investors if demand is strong enough, the bookrunner said on Friday. The company has set a price range for its shares between 10.50 euros and 12.50 euros, which would give the whole company a market value of between 2.66 billion euros and 3.03 billion euros, according to Reuters calculations based on the IPO prospectus. The private equity-owned company has been planning an IPO for more than a year, Reuters has reported previously, and has recently been sounding out investors. HBX's shareholders include private equity firms Cinven and EQT, and Canada's CPP Investments. Existing shareholders intend to sell existing shares worth about 25 million euros combined, the company has said. HBX Group would be the first to launch a European IPO this year after a slight recovery in issuance last year. That saw cosmetics and fashion group Puig and private equity fund CVC raising more than 2 billion euros respectively in Madrid and Amsterdam, but Europastry cancelling its market debut due to market instability. ($1 = 0.9633 euros) Sign in to access your portfolio
