Recoletos, the Spanish media group, has priced shares in its initial public offering below the indicative range, in a determined effort to ensure the deal's success in a turbulent market.

Recoletos, which is scheduled to debut on the Madrid Stock Exchange on Wednesday, priced its shares at €12 ($10), against the original range of €12.75 to €15.

IPO for Spanish media group hit by market volatility

Miles Gregory-Costello

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