Digi plans stock market debut with a 150 million euro issuance
The company seeks funding to expand its fiber and mobile network, retaining majority control.
By Airam Cabrera Suárez
••2 min read
IA
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Telecommunications operator Digi has formally announced its intention to debut on the stock market through a public subscription and sale of shares, through which it expects to raise approximately 150 million euros.
The company will allocate the net proceeds from this issuance, estimated at around 136 million euros, to drive its expansion. The primary goal is to broaden its home fiber network and deploy its own mobile network.
The operation will be supported by Global Portfolio Investments, the investment company of the Domínguez de la Maza family (Grupo Mayoral), which has signed a commitment to invest 100 million euros. This investment is based on a total equity value of up to 1.7 billion euros prior to the operation.
The offering will combine the issuance of new shares with the sale of existing shares by DIGI Romania, its sole shareholder. It will include an overallotment option of up to 15% of the initial offering size. Following the transaction, the DIGI group will retain at least 75% of the capital, ensuring company control.
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"Investment in our own networks, technology, operational efficiency, and customer proximity have been the key elements for consolidating our business model in Spain; a model built to offer quality connectivity at very competitive prices, relying on investment in our own networks as a growth engine. We are investing to expand fiber coverage and capabilities and to accelerate the deployment of our own mobile network."
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"Listing on the stock exchange would provide us with the opportunity to access an additional source of capital beyond those that have allowed us to finance our growth to date: equity and bank financing. In this regard, placing the company's shares on the Spanish stock market would strengthen our company's financial solidity and our ties with the country; all while the Group maintains its firm commitment to DIGI Spain and our long-term industrial plan, retaining control of the entity."
The offering, aimed at qualified investors, will involve a banking syndicate including Barclays, UBS, and Banco Santander as global coordinators; BNP Paribas and Citi as senior underwriters; and BBVA, CaixaBank, and ING as insurers. Rothschild & Co will act as financial advisor.
