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Report: Spanish Fashion Retailer Tendam Sees €2 Billion Valuation in IPO

Consumers are spending more as pandemic restrictions ease.
Tendam is considering launching an initial public offering in Madrid in a deal that would value the company at €2 billion. (Shutterstock)
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Spanish fashion retailer Tendam is considering launching an initial public offering in Madrid in a deal that would value the company at €2 billion ($2.28 billion), newspaper Cinco Dias reported on Tuesday citing unidentified market sources.

Tendam’s shareholders, buyout funds PAI and CVC, also evaluate selling the company, Cinco Dias added.

The company, formerly known as Cortefiel, was listed on the Madrid stock exchange until 2005, when it was taken over by buyout funds.

A Tendam spokesperson declined to comment.

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By Inti Landauro and Andres Gonzalez; Editor: Louise Heavens

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