The Spanish subsidiary of Digi Communications starts this Thursday on the Continuous Market with a market capitalisation of €1.662 billion, following an oversubscribed offer that reflects investor appetite.
Digi Spain Telecom, the Spanish subsidiary of the Romanian group Digi Communications, begins its journey on the Spanish stock exchange this Thursday. The initial price has been set at €5.60 per share, placing its market capitalisation at approximately €1.662 billion. The operation has recorded significant oversubscription, as confirmed by the company this Tuesday, indicating strong demand from national and international institutional investors.
The shares will trade under the symbol 'Digis' on the stock exchanges of Madrid, Barcelona, Bilbao, and Valencia, through the Stock Exchange Interconnection System (Continuous Market). The allocation of the shares was completed this Wednesday, paving the way for the effective trading to begin tomorrow, Thursday. From that moment, the stabilisation period for the shares will also commence, which may extend until 15 August.
Strong Institutional Support and Anchor Commitment of €100 Million
The public offering for sale (IPO) and subscription (OPS) has received backing from top-tier investors. One of the key supports has been from Global Portfolio Investments, a company controlled by the Domínguez de la Maza family, owners of the Mayoral Group, which has committed as an anchor investor with an injection of €100 million. This binding commitment has been a decisive factor for the success of the placement.
The CEO of Digi Spain, Marius Varzaru, described the moment as "decisive" and highlighted the "exceptional response from international investors". In a statement, Varzaru emphasised that the operation "reflects the strength of the business we have built, the dedication of our team, and the attractive opportunities ahead of us". The company expects to maintain 75% of the share capital in the hands of the parent group Digi Communications N.V., which is listed on the Bucharest Stock Exchange, thus ensuring control of the subsidiary.
No Dividends Until 2030 and a Board Led by Serghei Bulgac
Digi Spain's long-term strategy does not foresee the distribution of dividends at least until 2030. From that year onwards, management will evaluate a possible dividend based on results, cash generation, strategic plans, and financing constraints. The dividend policy will be conditional on the existence of distributable profits and future investment needs.
Once the listing is effective, the board of directors will be chaired by Serghei Bulgac. The company has designed a roadmap focused on organic growth and the expansion of its fibre optic network and mobile services, a segment in which it has managed to capture a significant market share in Spain. For individual investors, Digi Spain's stock market entry represents an opportunity to expose themselves to a telecommunications operator in a growth phase, although with the warning that there will be no return via dividends in the short term. The settlement of payment transactions will take place on Friday, 17 July, through Iberclear.
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