Blackstone’s Cirsa Seeks €2.5 Billion Valuation in Set-Price IPO

Cirsa Enterprises, the casino operator backed by Blackstone Inc., is targeting a valuation of €2.5 billion ($3 billion) in its initial public offering, setting the stage for Spain’s second biggest IPO so far this year.

The offering is set to consist of about 30.2 million shares for sale at €15 apiece, which would raise about €453 million, according to a statement on Monday. The deal would be Spain’s second-largest IPO so far this year, according to data compiled by Bloomberg.

The fixed-price share sale comes as European IPOs have had a mixed path to the public market ahead ...