BME and BIG BAN ANGELS create the first pre-market environment in Spain for start-ups
23 November, 2016
Entrepreneurs and the Spanish stock market operator launch a joint project
- The pre-market environment will give start-ups access to new investors and an insight into the functioning of the stock market, thereby boosting access to private investment.
- Start-ups wishing to gain access to the pre-market environment must have been operational for 2 years, they must submit their audited accounts over the last 2 financial years, and be seeking investment of between 500,000 and 2 million euros.
BME and Spain's National Business Angels Association, Big Ban Angels, have struck an agreement to create the first pre-market environment for start-ups in Spain. The chief objective of the environment is “for entrepreneurs to acquire a stock market culture as an investment option, set up links and communication and boost their investor visibility”, explained Big Ban Angels President, Tomás Guillén.
BME Markets Director, Jorge Yzaguirre, said: “For over 100 years BME has been helping Spanish businesses take up market opportunities to assist with funding, growth, training, visibility and efficiency. We feel sure this initiative will help provide start-ups with valuable market information and training for future financial decision-making.”
The new BME/Big Ban Angels pre-market environment sets out to give a select number of start-ups the backup they need to develop the competences required by regulations, to enable them to home in on private investment available on the markets run by BME. To help achieve these aims, BME’s premises in Valencia will provide virtual and physical areas to enhance the visibility of companies within the environment, grant access to information on businesses for new qualified investors, and forge a link between businesses and investors, through specific events such as Investor’s Day and Transaction Day, to boost knowledge of companies and widen the scope for direct investment.
Another of the main aims of the initiative is training for professionals, businesses and investors/business angels in capital markets (official secondary and alternative markets), pinpointing corporate progress in terms of compliance with market access and operations, information requirements and corporate governance.
Some of the market access requisites for innovation-focused start-ups are: they must be public or private limited companies they must have been operational for at least 2 years, they must submit their audited accounts over the last 2 financial years, publish a 3-year business plan, and be seeking investment of between 500,000 and 2 million euros, or the maturity of their current status must be such that their interest lies solely in the experience and training available in the environment to gain access to the markets run by BME Group companies.
For more information:
Tel.: + 34 91 589 12 86