HBX Group's Successful IPO Launch Led by Alantra
Deal News | Feb 18, 2025 | Finance Community ES 2 - Corporate M&A
Alantra has successfully co-directed the Initial Public Offering (IPO) and listing of HBX Group, a leading independent B2B travel technology market, on the Spanish Stock Exchange. The IPO comprised a primary offering of 63 million new shares, raising approximately 725 million euros, with existing shareholders placing 2 million shares for an additional 23 million euros. The total amount raised from the IPO, which saw strong demand from institutional investors both domestic and international, was around 860 million euros. With a share price set at 11.50 euros, HBX Group's market capitalization at listing was approximately 2,840 million euros. The funds raised will be used for settling deferred sale considerations, covering cash disbursements related to the admission, refinancing debt, among other objectives. Andr Pereira, Partner and Head of ECM at Alantra Equities, acknowledged the significance of this IPO as the first of the year in Spain, highlighting the company's impressive growth trajectory.
Sectors
- Financial Services
- Travel Technology
Geography
- Spain – The IPO and listing of HBX Group took place on the Spanish Stock Exchange.
Industry
- Financial Services – The main action revolves around the IPO and financial activities conducted by Alantra and HBX Group.
- Travel Technology – HBX Group operates as a B2B travel technology market, owning platforms like Hotelbeds and Bedsonline.
Financials
- 3,000 million euros – Valuation of HBX Group upon listing.
- 2,840 million euros – Market capitalization of HBX Group at the time of listing.
- 725 million euros – Gross proceeds raised from the primary offering of 63 million new shares.
- 23 million euros – Proceeds from the placement of 2 million existing shares by selling shareholders.
- 860 million euros – Total amount raised from the IPO, including the placement of new and existing shares.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HBX Group | Target company | Company | A leading independent B2B travel technology market that offers interconnected travel technology products and services. |
| Alantra | Co-Lead Manager | Company | A financial services firm that co-directed the IPO for HBX Group. |
| Andr Pereira | Partner and Head of ECM | Person | Responsible for overseeing the IPO process at Alantra Equities. |
| Fernando Abril-Martorell | Partner | Person | A partner in the research team at Alantra Equities. |
| Oscar Sánchez Ros | Team member, ECM | Person | Part of the equity capital markets team at Alantra. |
| Diogo Cabral | Team member, ECM | Person | Part of the equity capital markets team at Alantra. |