Digi Spain has confirmed that it’s considering an initial public offering (IPO) to finance the carrier’s €2 billion ($2.32bn) investment in the country by 2030.

As reported by Cinco Dias, the carrier plans to offer a minority stake on the Madrid Stock Exchange. This will either be done through existing shares or newly issued shares.

However, the Romanian-owned company said it has no plans to pursue a majority stake sale.

Digi is currently the fourth-largest mobile carrier in Spain, initially entering the market as a mobile virtual network operator in 2008, offering services via Telefónica’s network.

Since MásMóvil and Orange’s merger last year, Digi has been transitioning to become a full mobile network operator instead, plugging the gap created by the merger to become the fourth Spanish carrier. Digi acquired frequencies in the 1,800MHz, 2,100MHz, and 3,500MHz bands from MásMóvil last year.

“In line with its strategy to continue improving the capital structure and long-term financial position of its subsidiaries, the group is exploring the possibility of launching an initial public offering (IPO) of a minority stake in Digi Spain. The group’s decision to undertake such a transaction, including its terms and timing, will depend on market conditions and other relevant considerations,” said Digi Communications in a regulatory filing.

“The group is not currently contemplating any transaction that would result in a loss of control over any of its major subsidiaries, including Digi Spain, and remains focused on initiatives that enhance long-term value creation across the group.”

For the first nine months of this year, Digi Spain posted revenues of €681 million ($789m), up 19 percent year on year (YoY). In the same period, the telco has invested €395m ($458m) into its network.

During the last year, Digi had added more than 2.3 million customers, taking its total customer base to 10.2 million, up 29 percent YoY. Digi has 6.93 million mobile customers and 2.43 million fiber subscribers, plus 768,000 had fixed-line telephone service subscribers.