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Investing.com -- Shares of Spanish travel technology company HBX Group fell slightly in their market debut, trading at €11.40 after being priced at €11.50 in its initial public offering (IPO).
The owner of the well-known Hotelbeds brand, HBX Group, entered the market with a valuation of up to €2.84 billion ($2.93 billion), marking one of the first major euro zone IPOs of the year.
The company concluded its bookbuilding process on Monday, securing €725 million in capital that it plans to use for debt reduction.
Additionally, HBX Group has disclosed an over-allotment option, which allows the sale of up to an additional 15% of the initial offering, amounting to €112 million.
This option is available until March 14, as per the company’s statement to the CNMV, Spain’s stock market supervisor.
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