eDreams Odigeo to launch IPO in Spain

EDreams Odigeo is to launch an initial public offer of shares in Spain.

The owner of Opodo is aiming shares at institutional investors, according to Reuters who reported that the move will help pay off debt and fund its further expansion.

Odigeo said it hoped to raise €50 million from the sale of new shares and current owners would also be selling some of their shares.

The group had revenues of €4.15 billion at the end of the last financial year in March.

In a statement, Odigeo said: “We believe that our scale and strategic advantages position us well to benefit from certain key trends in the online travel markets in which we operate.

JP Morgan and Deutsche Bank have been appointed as global coordinators for the share offer.

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