Private equity giant Blackstone is preparing to list shares of Cirsa, a Spanish gaming company, on the Madrid stock exchange in the first half of next year, according to a report by Spanish newspaper Expansión.
The report, which cited unidentified market sources, suggests the initial public offering (IPO) could raise between €700m and €1bn ($732m to $1.1bn).
Blackstone reportedly plans to float between 20% and 25% of Cirsa’s shares and has enlisted Barclays, Deutsche Bank, and Morgan Stanley as global coordinators to manage the listing.
Cirsa, Blackstone, and the banks involved have yet to comment on the report.
Blackstone acquired Cirsa, which operates a network of casinos and betting shops across Spain and Latin America, making it a prominent player in the gambling industry, in 2018 for an undisclosed amount.
