BME has approved today the new regulatory framework that introduces the regulatory changes necessary to implement BME Easy Access, a new simplified procedure designed to facilitate companies' entry into the regulated market.
This new framework will allow companies that do not yet meet the minimum free float requirement — currently 25%, and set to be reduced to 10% under the forthcoming Listing Act — to go public as long as they comply with all other obligations applicable to listed companies. These companies will have up to 18 months to reach the required free float, either through IPOs, secondary offerings or block trades. If this threshold is not reached within the timeframe, possible alternatives include a six-month extension, acceptance of a lower free float in accordance with applicable regulations, or delisting.
BME Easy Access is part of the joint initiative by BME and the CNMV to reactivate IPO activity and make equity markets more attractive for companies. It aligns with the European recommendations to revitalise capital markets, as well as the White Paper on boosting the competitiveness of capital markets published by BME.
Both this document and the OECD's report on Spanish capital markets highlight the need for more flexible mechanisms that encourage companies to access public markets, while maintaining the transparency and standards required of listed firms.
With this new procedure, BME reaffirms its commitment to supporting business financing and building robust, inclusive and balanced capital markets, ensuring a healthy interplay between public and private investment.