MADRID (Reuters) -Blackstone's gambling company Cirsa said on Wednesday it planned to raise as much as 460 million euros ($529.46 million) in a first initial public offering of shares on the Madrid
Cirsa, Owned by Blackstone, Plans Initial Public Offering in Spain
MADRID (Reuters) -Blackstone's gambling company Cirsa said on Wednesday it planned to raise as much as 460 million euros ($529.46 million) in a first initial public offering of shares on the Madrid stock exchange this year.
The company, which operates casinos and gaming platforms in Spain, Latin America, Morocco and Italy, intends to sell up to 400 million euros in newly issued shares and an additional 60 million euros in a secondary share sale, it said in a statement.
Spanish-based Cirsa plans to use to proceeds to boost growth and repay debt, it said.
The initial public offering is the first in Madrid since Spanish clean energy and water utility Cox went public in November last year.
($1 = 0.8688 euros)
(Reporting by Yadarisa Shabong in Bengaluru and Inti Landauro in Madrid; Editing by Nivedita Bhattacharjee and Andres Gonzalez)
