Romania's Digi Communications lists subsidiary on Spanish Stock Exchanges after successful IPO

Romania’s telecommunications company Digi (BVB: DIGI) announced that shares of its Spanish subsidiary, Digi Spain Telecom, began trading on the Spanish Stock Exchanges under the ticker symbol “DIGIS” on Thursday, July 16. 

The listing follows the successful completion of Digi Spain’s initial public offering, which raised approximately EUR 287 million through a primary and secondary offering and was multiple times oversubscribed amid strong demand. The offering value has the potential to increase up to EUR 330 million if the stabilization manager exercises the over-allotment option granted by Digi Romania, according to the company's press release.

The offering was priced at EUR 5.60 per share, implying an initial market capitalization of approximately EUR 1.7 billion for Digi Spain.

The stock market debut was inaugurated by the traditional bell-ringing ceremony at the Madrid Stock Exchange Palace. The event was attended by Marius Vărzaru, Chief Executive Officer of Digi Spain, and Serghei Bulgac, Chief Executive Officer of Digi Communications, alongside members of the company’s Board of Directors, public officials, and representatives of the business and social community.

“We are deeply grateful to our customers for the trust they have placed in us. The listing reflects the maturity and scale that Digi Spain has achieved and validates the strength of the business we have built over the years,” said Serghei Bulgac. 

Following completion of the offering, Digi Communications, through Digi Romania S.A., retained approximately 80% of Digi Spain’s share capital and continues to maintain control of the company.

The funds raised through the capital increase will support Digi Spain’s long-term growth strategy, including the continued expansion of its proprietary telecommunications infrastructure and further development of its customer base.

The Spanish division of Digi has been the company’s principal growth engine in recent years. It led the net portability rankings for fixed and mobile services for 17 consecutive quarters, and its revenue has already surpassed EUR 1 billion on an annualized basis, following the close of 2025 with EUR 929 million. 

During the first quarter of 2026, the company’s revenue increased by 16.4%, reaching EUR 252.2 million, while adjusted EBITDA reached EUR 50.6 million. Its own fiber-optic network covers 14.2 million households, with a medium-term target of expanding to approximately 21 million homes. Furthermore, it has been recognized by Ookla as the fastest fixed broadband network in Spain for five consecutive years, and the company now has a team of 11,721 people.

Moreover, in Q1 2026, Digi Spain increased its total revenue-generating units (RGUs) by 25.9% year-on-year to 11.4 million. Mobile services reached 7.6 million RGUs, up 21.5% compared to the first quarter of 2025, while broadband services increased by 30.4% to 2.8 million RGUs.

For 2026, Digi Spain expects revenues of between EUR 1.04 billion and EUR 1.085 billion, representing annual growth of between 11.9% and 16.8% compared to 2025, supported by continued customer growth and ongoing investment in proprietary telecommunications infrastructure.

Digi Spain’s shares are admitted to trading on the Barcelona, Bilbao, Madrid and Valencia Stock Exchanges. Barclays, UBS and Banco Santander acted as Joint Global Coordinators for the IPO, alongside BNP Paribas, Citi, BBVA, CaixaBank and ING, while Rothschild & Co served as the company’s independent financial advisor.

Digi Communications currently operates telecommunications businesses in Romania, Spain, Italy, Portugal, Belgium, and the United Kingdom.

radu@romania-insider.com

(Photo source: company press release) ...