Bolsas y Mercados Españoles (BME), the company that runs the Spanish stock market, said on Thursday. Launch of BME Scale, a new marketplace mainly aimed at facilitating ‘scaling up’ listing. This is how ‘startups’ are known as those who have left the starting stages behind, gained muscle and are completely focused on growth. Companies such as Factorial, Film, Glovo, Holaluz, Neuroelectrics or Wallbox are referred to by this term in Spain.
With this market, BME aims to deliver more, according to Europa Press financing alternatives often from these companies seeking money among venture capital funds, ‘business angels’ or participating financing platforms. “Now, financial markets will also be an option for these companies and they will also automatically have access to the pre-market environment program,” said Jesús González-Nieto, managing director of BME Growth.
BME explains that it is specifically aimed at companies that are starting to consolidate and have been recording annual growth rates of more than 20% for more than three years. In this sense, three types of companies have been identified: ‘scalers’ billing between one and ten million euros; ‘growth’ ranging from 10 to 50 million; and ‘rockets’ with a bill of more than 50 million and growing very fast. New BME Scale market Targeting ‘scalers’ who bill the most and ‘growth’ who enter the least.
Open to other companies
Organized as a multilateral trading system and supported by BME’s trade and settlement technology, this new market is also It is open to other types of companies such as SMEssocimis or family businesses Individuals seeking initial contact with capital markets, even if they do not meet the ‘free movement’ requirements or other information requirements imposed by BME Growth.
The company said it was authorized by the National Securities Market Commission (CNMV) last week after working on this project for more than a year. The regulations were published this Thursday and the purpose of BME is to Start owning a company in the last quarter.
Regarding the possibility that BME Growth companies (the market where the smallest are listed) may choose to switch to Scale or to list in the latter, the company clarifies that this will not be allowed where Growth companies have the capacity and structure. for meet the requirements of this market. On the other hand, this will be possible, for example, for companies that lose their ‘free movement’ rights at the time of their listing. However, the market operator has stated that this will be evaluated “on a case-by-case basis”.
In addition, Scale pointed out that companies want to create a “fast lane” to quickly move to Growth if they meet a set of requirements, such as being listed for more than 18 months or meeting ‘free roaming’. requirements.