Digi has decided it's time to make the definitive leap onto the Spanish stock exchanges after a previous attempt that was shelved due to international uncertainty. The Romanian-based operator, which has become a veritable whirlwind in the Spanish telecommunications market, now seeks to consolidate its growth through an IPO that promises to shake up the sector and strengthen its position against the major players in the telecommunications industry.
This is no ordinary move, as the company aims to raise a significant amount of fresh capital to continue deploying its own network infrastructure. With the parent company's approval and a well-defined strategic plan, the Spanish subsidiary is preparing to debut in a market that, while often volatile, now seems to offer the window of opportunity they've been waiting for to strengthen their ties with the domestic market.
A financial structure designed for growth
The operator has officially announced its 'Intent to Float', signaling the imminent start of its listing on the stock exchanges of Madrid, Barcelona, ​​Bilbao, and Valencia . The operation has been structured in a dual manner, combining an initial public offering (IPO) with a general sale (IPO), which will allow both the inflow of new capital and the rotation of existing shares held by its sole shareholder.
To maintain its business focus, the parent company, Digi Communications, will retain at least 75% of the share capital , ensuring that strategic control of the Spanish subsidiary remains unchanged. The goal is to offer a maximum of 25% of the company on the market, a figure that allows them to attract large investment funds without sacrificing the operational independence that has fueled their rapid growth in recent years.
Mayoral's push and the role of the banks
One of the factors that has instilled the most confidence in the process is the firm commitment of the DomÃnguez de la Maza family, owners of the Mayoral Group. Through their investment arm, they have committed €100 million , which lends the operation unquestionable visibility and solvency. This investment values ​​the Spanish business at approximately €1.700 billion before the planned capital increase.
To successfully launch this offering, the telecom company has partnered with a powerful banking syndicate led by institutions such as Barclays, Santander, and UBS , which are acting as global coordinators. At a secondary level, banks like BBVA, CaixaBank, and ING are also participating in the placement, demonstrating the enormous interest the operator's low-cost business model is generating among the continent's leading digital banking and financial players.
Network investment and goals for the future
The money raised, estimated at around €136 million net after expenses, has a very clear purpose: infrastructure and cabling. The company wants to accelerate the expansion of its fiber- to-the-home network and, above all, the deployment of its own mobile network. This aims to reduce its reliance on leasing external networks, which will ultimately translate into considerable cost savings and complete control over the quality of service offered to its subscribers.
Today, the company already boasts a solid customer base of 11,4 million in Spain, consistently leading the portability statistics month after month. Its forecasts for the end of 2026 are optimistic, projecting revenues that could exceed €1.080 billion. If plans unfold as expected, they anticipate profitability will soar above 30% in the medium term, solidifying their position as the third largest fixed broadband operator in the country.
This strategic move in the financial markets represents the culmination of a period of aggressive expansion based on competitive pricing and highly efficient operations. By opening its capital to institutional investors and securing the backing of local wealth, the operator not only strengthens its financial structure for future investments but also builds a corporate reputation that will allow it to compete head-to-head with traditional operators in an increasingly concentrated Spanish market.
