This move positions HBX as the first major European listing of 2025. The company's valuation could reach approximately '5bn. The IPO includes partial stake sales by current shareholders, including CPPIB, Cinven, and EQT. Best known for its Hotelbeds brand, HBX plays a critical role in the global travel industry. In particular, it connects clients like Expedia and airlines with a wide array of hotel rooms, rental cars, and travel experiences. By pre-negotiating room availability and rates, the company helps businesses reach customers in emerging travel markets such as Asia and Latin America. The IPO proceeds will primarily be used to reduce HBX's debt, a key step in strengthening its financial position. The company, acquired by CPPIB and Cinven in 2016 for '1.2bn, aims to capitalise on Europe's recovering IPO market. Recently, the market has faced volatility due to geopolitical and macroeconomic challenges. A successful listing would signal renewed momentum in European IPOs. While...
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