Romanian telco giant Digi announces intention to IPO subsidiary in Spain
Telecommunications company Digi officially announced its intention to carry out an initial public offering for the listing of its Spanish subsidiary on the stock exchanges in Madrid, Barcelona, Bilbao, and Valencia in a press release published on Monday, June 29.
The offering will include newly issued shares worth approximately EUR 150 million, to which is added a secondary component of shares sold by Digi Romania S.A., the sole shareholder of the Spanish subsidiary. A Spanish institutional investor with long-standing experience in listed shares and sector expertise in telecommunications, Global Portfolio Investments, has already made a firm commitment of EUR 100 million, conditional on a pre-money valuation of a maximum of EUR 1.7 billion.
After completion of the transaction, including in the case of full exercise of the 15% over-allotment option, Digi Romania will retain at least 75% of Digi Spain.
Net proceeds from the primary offering, estimated at around EUR 136 million euros, will mainly go toward expanding the fiber optic network and mobile infrastructure, while maintaining a prudent level of indebtedness.
“Digi Spain has built a distinctive customer-centric model, based on affordable and high-quality connectivity, as well as disciplined execution, generating a remarkable growth rate and a clear trajectory toward further expansion,” said Serghei Bulgac, Chairman of the Board of Directors of Digi Spain.
Since its establishment in 2008, Digi Spain has seen a rapid growth of its operations. At the moment, the company has a total of 10.8 million revenue-generating units, of which 7.3 million are mobile, and 2.6 million are broadband. Last year, Digi Spain maintained its position as the leader in mobile number portability in Spain for the fifth consecutive year.
Digi Communication, listed on the Bucharest Stock Exchange, reported consolidated revenues of EUR 2.22 billion for 2025, up 15% compared to the previous year, but ended the year with a pre-tax loss, amid the rapid increase in financing costs and investments in expanding networks outside Romania.
(Photo source: company photo)
