Spanish rolling stock manufacturer Talgo has selected JP Morgan, Santander, and Nomura as banking advisors to evaluate the possibility of launching an initial public offering on the Madrid stock exchange, which is provisionally valued at EUR 400-500m.
According to local media reports, the banking advisors will now analyse the options available, starting with plans to float a 50% stake in Pegaso Rail International, the holding company which owns 100% of Patentes Talgo. Pegaso is currently valued at between €800m and €1bn.
Besides Spain, Talgo trains circulate in Portugal, France, Swizerland, Italy, United States, Kazakhstan and Uzbekistan.
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