Market overview 2016
- It consolidates its role as a source of financing for small companies and Reits
- 118 IPOs and capital increases since 2009
The Mercado Alternativo Bursátil (MAB), the Spanish exchange for small companies, ended 2016 with a positive set of figures in relation to financing, IPOs and capital increases, and total capitalisation, both over the last year and since its creation, in 2009, despite having to live through a period of crisis and an unfavorable economic environment.
The amount of capital companies have raised through MAB in the last few years has increased notably and, at the end of 2016, stood at close to €900 million (specifically, €877 million). In 2016, the companies listed on the MAB obtained total funding of €300 million.
A total of 118 transactions have taken place since the MAB's creation, including new listings and capital increases, with an average value of €7.4 million. In 2016, there were 27 transactions, the highest number recorded since the market opened in 2009.
As a result of the rise in the number of companies and reits listed on the MAB, the total market capitalisation reached €4.5 billion by the close of 2016.
In the last few years those companies on the MAB have demonstrated a solid performance in turnover, EBITDA and job creation. Their total turnover increased by 33% in 2014 and 21.2% in 2015. Their combined EBITDA rose by 45.8% in 2015, whilst total number of employees in these companies went up by 18% in 2014 and 9.7% in 2015, showing their capacity to generate high levels of profitability and employment.
In the words of Jesús González-Nieto, MAB's Vice-Chairman and Managing Director: “MAB has consolidated its role as a source of funding for a broad range of companies, enabling them to get access to the capital they need to undertake new projects and responding to the difficulties they have had during the crisis to obtain finance”. At the end of 2016, a total 67 companies were listed on the MAB