Banco Santander, J.P. Morgan and Nomura have set the market-listed debut price for Talgo at €9.25 per share. The transaction is valued at €626.5 million.

Railway operator Talgo has launched an initial public offering (“IPO”) of 45% of its share capital, setting the share price at €9.25. It will place €61 million shares on the market, which entails a €1.3 billion market capitalization.

It will distribute the securities between institutional investors and minority shareholders, making its debut on the stock exchange on May 7, after being checked by the Spanish Securities and Exchange Commission. The transaction is valued at €626.5 million.

Cuatrecasas, Gonçalves Pereira has advised Banco Santander, J.P. Morgan and Nomura, the global coordinating institutions of this initial public offering.