The Spanish-headquartered company is now publicly traded
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HBX Group lists on the Spanish Stock Exchanges
B2B travel technology giant HBX Group has launched its trading as a listed company on the Spanish Stock Exchanges.
The move announced last month, sees HBX Group shares now available on the Barcelona, Bilbao, Madrid and Valencia stock exchanges.
Listing follows the initial offering of its shares, an offering of €748 million, including a secondary offering of existing ordinary shares from current shareholders Prometheus Aggregator, Canada Pension Plan Investment Board and Kiwi Feeder.
Together with the additional overallotment option of up to 15% of the size of the base, the total offer size is totals up to €860 million.
The shares were priced at €11.50 per share and was multiple times oversubscribed thanks to strong demand from international and domestic institutional investors.
Since it made its debut to the market this morning though, its market value has taken a tumble, with Reuters reporting its share value of the Madrid-listed shares, dropped 8.3% to €10.54.
Nicolas Huss, CEO of HBX Group, said: “HBX Group’s successful IPO marks a new chapter in our mission to connect a vast network of suppliers and distributors within the highly fragmented leisure travel sector.
"With strong investor confidence in our strategy, we will continue leveraging our technology and data to deliver an unparalleled range of tailored travel solutions to our clients.
"This achievement would not have been possible without the dedication and hard work of our 3,600 employees across over 170 countries," he said.
"Their commitment to our vision has been the driving force behind this milestone. We are grateful to our investors for their trust and support, and we look forward to embarking on this new journey together.”
The listing has been designed to support the group’s growth strategy which aims to expand its accommodation product line, increase platform partnerships, and drive profitability through advanced technology and pricing capabilities.
