Spanish travel technology group HBX slumps on market debut

FILE PHOTO: The logo of Spanish travel technology company HBX Group is displayed at the company's headquarters in Palma de Mallorca, Spain, January 17, 2025. REUTERS/Francisco Ubilla/File Photo

MADRID (Reuters) - Shares in Spanish travel technology company HBX Group plunged on their market debut on Thursday, erasing 236 million euros of its market value.

HBX Group, which owns the Hotelbeds brand, had priced its shares at 11.50 euros earlier in the week for a 2.84 billion euro ($2.96 billion) valuation, in one of the euro zone's first initial public offerings of the year.