Baker Europastry Launches IPO in Spain, Fueling European Revival

Bakery firm Europastry SA announced plans for an initial public offering on Spanish stock exchanges, the latest in a reviving European market after two years of muted activity.

The offering will consist of new shares to raise €225 million ($241 million) and shares sold by existing stakeholders, the company said in a statement Tuesday. Europastry plans to list shares at the Barcelona, Madrid, Bilbao and Valencia stock exchanges, it said.

The company said the expected post-IPO free float will be at least 25%. Bloomberg News earlier reported that the IPO could raise €500 million.

The company’s listing would follow Spanish ...