Shares in Spanish airport operator Aena soared today following its highly anticipated debut on the Madrid Stock Exchange, in what has been Europe's biggest initial public offering since 2011.
Aena, which owns Luton airport, saw its share price jump as much as 17 per cent to €68 per share from the €58 flotation price. This pushed its market capitalisation from €8.7bn (£6.4bn) up to $9.9bn.
Investors' interest in the airport group's shares was said to have rocketed in the run up to the flotation, which one banker had described as "probably the blockbuster IPO in Europe for 2015".
The group had originally intended to float in November last year, however the deadline was pushed back amid reports of in-fighting among government ministers and worries about the Eurozone economy.
Aena ranks as the world's biggest airport group in terms passenger numbers and runs 46 airports in Spain.
It's one of two major Spanish floats taking place this week, with building firm Actividades de Construccion y Servicios (ACS) set to list its renewable energy unit Saeta Yield in the next few days.