Hotel Beds takes its last step before the IPO. The company confirmed its final price in the public sales offer (OPV) in the 11.5 euros per share. This will be the Reference price for investors Until the touch of bell, scheduled for this February 13, and with which he will begin his Andean as quoted inside the Spanish Stock Exchange. In this way, the stock market capitalization is located in the 2,840 Millions of euros.
HBX Group, the owner holding of the applicant to quoted, The prospecting period has officially closed this Monday of demand (Bookbuildingin English), which implies taking the final step before the jump to the parquet. In this way, the price of Hotel Beds is halfway within the initial range established by the company and was between 10.5 euros and 12.5 euros per title. With these figures, the market value (stock marketing) of the company could reach 3,030 million euros applying the over allowed shares. Thus, the immediate stock debut of Hotelbes would be marked by a discount of around 7% compared to the maximum value planned by the company. And it would be even greater if compared to the average of the sector that already has history in the market.
The Hotel Beds sector, which is a technological company linked to the tourist reserves business, quotes with an assessment ratio in front of the debt and/or subtract the box from the stock market capitalization) of 12.5 times. When multiplying this ratio for the gross benefit of Hotel Beds exploitation in 2024, which reached 397 million euros, a market assessment close to 3.2 billion euros (It does not take into account the debt). That is, the company is presented with a discount that exceeds 12%, which is usually common in departures to attract investors in the stock exchange.
Investors already demonstrated interest in the company weeks ago. And it is that a few hours after the round of requests start to go to the OPV, the Bookbuilding of it. In fact, the over -assignment may finally be up to 15%, the maximum expected, which would give the company another extra of 112 million euros at the price of 11.5 per title.
The Hotel Beds IPO is, to date, the largest announced in the European Stock Exchange. The company would obtain 725 million euros with this OPV. To this is added the secondary offer with the two million shares that make the sellers available to look It would be to reach 860 million euros. There is more than 100 expected operations of exits Throughout the world and that of Hotel Beds it is in second place per size, only behind the 1,000 million dollars that Sailpoint raises with its own public sale offer.
If everything follows as planned, the company will play the bell on February 13. With the current degree of acceptance and given that overwhelming would be the highest planned, the Free float (floating capital) will finally be 35.5% or 31.6% if said overwhelming is not exercised. At the moment, from HBX Group they do not commit to distribute dividends, although It raises other plans and objectives before investors In the short term. However, from the company they have planned to distribute up to 20% of benefits net between exercises 2026 and 2029 if the conditions allow it and complying with current legislation.
The Hotelbeds business focuses mainly on technological support and software focused on tourism services. That is, it acts as an intermediary between suppliers and other companies in the sector (such as hotel chains or airlines) with distributors that are included in travel agencies and other operators. Although with exceptions, the hotelBeds business model is Similar to another company already quoted within the IBEX 35: Amadeus. While it is true that Amadeus’s gross benefit is remarkably higher than that of Hotel Beds.
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