MAB, BME’s Growth Market, today admitted TESTA to trading, marking the 100th company to join this market since its creation, whose combined capitalisation already exceeds 11 billion euros. So far this year 16 new companies have joined this market operated by BME.
MAB launched in 2009 to make it easier for small capitalisation companies seeking to expand to gain access to the market by means of an ad-hoc regulation, designed specifically for them and with costs and processes tailored to their characteristics.
Since then, MAB has channeled over 1.7 billion euros to its listed companies through 166 capital increases. In addition to financing, listing on the market brings prestige, valuation and visibility. Listing on the market involves making an effort of transparency, but it helps to streamline the company’s management and explain it to third parties. Another advantage is that it allows to divest easily and at known and transparent prices.
One of the most attractive sectors in the last two years has been that of Real Estate. Of the 100 companies currently listed on MAB, 58 are from this sector, which have played an important role in an industry particularly hit by the recent economic crisis. Another 35 companies operate in sectors linked to technology and innovation and 7 others in the Commerce, Tourism and Metal sectors.
Between 2013 and 2017 MAB-listed companies posted average annual growth rates of 29.9% in revenues, 21.2% in EBITDA and 8% in job creation, a contribution that takes place over a period affected by the financial crisis and which is especially relevant as 90% of Spanish companies are SMEs.
Nine years on since MAB was created, 9 companies have delisted from the MAB as a result of different circumstances: some of them because the survival rate of SMEs is much lower than that of bigger companies. The other side of the coin shows successful stories in which listing on MAB has acted as a stepping stone to reach the main market, directly or through corporate transactions with other listed companies.