Digi, the Romanian-origin 'teleco', still has not specified when it will list part of its business in Spain on the stock exchange, although it has reiterated that the operation remains on the table after postponing it in April due to market "instability".
In this context, the CEO of Digi, Marius Varzaru, stated at the "DigitalES Summit" event that, looking at the coming quarters, the decision will depend on the windows that open in the market, but that it remains a real alternative.
"Any possibility is open; we have suspended this possibility in April due to the market context and, looking ahead to the coming quarters, depending on the opportunity that arises, it is a possibility we want to consider," Varzaru explained when asked if Digi's Spanish subsidiary is considering reactivating its plans to list next July.
The executive recalled that this option was already presented at the Capital Market Day that the group held in March in Madrid, where "the group was able to share its objectives and plans for the coming years, including a possible stock market listing in Spain of the Spanish subsidiary".
Varzaru emphasized that an eventual operation would not mean giving up control of the business in the country. "At no time would it practically be considered to change or lose control of the Spanish subsidiary," he remarked.
In this regard, he detailed that "it is being discussed as a possible stock market listing of a minority stake," so that the company's industrial plan can proceed without alterations.
Digi's top executive highlighted the response obtained from potential investors in the contacts made so far, assuring that the reception has surprised them in a "very positive" way.
Capital Increase Plan and Market Context
Digi had considered undertaking a capital increase of between 150 and 200 million euros linked to the possible stock market listing of a stake in its Spanish subsidiary. However, the agency 'Bloomberg' pointed out yesterday that the operation could start "next week" and raise at least 300 million euros.
The company explained, when it decided to halt its stock market debut, that it was doing so due to the geopolitical environment and the resulting instability in financial markets.
"In exploratory conversations, the investors' response has been very positive, recognizing the value of the company's growth project and the strategy it is deploying in Spain," the company stated then.
At the same time, Digi stressed that it would continue to monitor "the evolution of the global context and capital markets to evaluate the possibility of a potential transaction."
It is worth remembering that the operator did not have a fixed calendar for its debut on the stock market, nor did it face an "urgent" need to do so.