Digi Spain Telecom, the Spanish subsidiary of the Romanian telecommunications group, will start trading on July 16 at a price of €5.60 per share, which values the company at €1.662 billion. The operation will mobilise up to €330 million between primary and secondary offerings.
The Spanish subsidiary of the Romanian telecommunications group Digi Spain Telecom will begin its journey on the stock exchange next Thursday, July 16. The initial price has been set at €5.60 per share, giving the company a market capitalisation of approximately €1.662 billion. The operation combines a public offering for sale (OPV) and a subscription offering (OPS) that could reach a maximum volume of €330 million.
An offer with primary and secondary tranches
The operation is structured in two tranches. The primary tranche, of about €150 million, corresponds to the issuance of 26.8 million new shares. The secondary tranche, of approximately €137 million, involves the sale of 24.5 million existing shares by Digi Romania, the sole shareholder. In total, the initial offer amounts to about €287 million and 51.3 million shares.
Additionally, a 15% over-allotment option managed by Barclays Bank Ireland PLC has been planned, which would allow for the placement of up to 7.695 million additional shares. If exercised, the maximum size of the operation would rise to €330 million and nearly 59 million shares. The stabilisation period extends until August 15.
The net proceeds from the primary tranche, between €134 and €136 million, will mainly be used to finance the company's growth. Among the plans is the expansion of the 'Smart Footprint' through new fibre-to-the-home deployments and the development of its mobile network, both through sharing agreements and its own infrastructure.
Anchor investor and group control
The operation has a significant anchor investor. Global Portfolio Investments, the investment company of the Domínguez de la Maza family (Grupo Mayoral), has committed to invest €100 million in the offering. This backing reinforces confidence in Digi Spain's project.
After the stock market debut, the group led by Digi Communications N.V. will retain at least 75% of the capital and maintain control of the Spanish subsidiary. The offer is directed exclusively at qualified investors.
For retail investors, the shares will not be available in the OPV tranche but can be purchased in the secondary market once trading begins. The ticker will be 'DIGIS' and settlement will be carried out through Iberclear.
No dividends until 2030 and renewed board
The company has announced that it does not expect to distribute dividends before 2030. From then on, it will consider possible payments based on its results, financing needs, and legal restrictions. This policy allows for cash retention to finance growth.
After admission, the board of directors will consist of six members. Serghei Bulgac will be the chairman (dominion), Marius Varzaru the executive vice-chairman, and Catalin Neagoe another executive. Independent members include Carlos Robles García and Virginia Arce Peralta, with Mariana Mihaela Toroman as dominion.
Revenue and investment forecasts
Digi Spain Telecom expects to close 2026 with revenues between €1.040 and €1.085 billion, representing growth of between 11.9% and 16.8% compared to €929.2 million in 2025. The company also expects to maintain an adjusted EBITDA margin in the low twenties.
Regarding investment, the planned capital expenditure for 2026 is about €400 million, 14.5% less than the previous year. This expenditure will focus on fibre and mobile network deployment.
For investors interested in the telecommunications sector, Digi Spain offers exposure to a low-cost operator with strong growth in Spain. The shares will begin trading on Thursday, July 16, and can be followed in real-time through the SIBE.
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