The selection of candidates will begin at the next Forinvest financial fair
The pre-market environment is designed to give start-ups access to funding and an insight into the working of the stock market.
BME and Spain's National Business Angels Association, Big Ban angels, have signed an agreement that allows the roll out of the first pre-market environment for business start-ups, with the aim of improving their access to private investment as well as helping them gain an insight into how the stock exchange works. The planned opening date for applications from companies wishing to form part of this initiative is 8 March, as part of the Forinvest financial fair, which will take place in Valencia.
In this way, all start-ups and investors that wish to take part in this initiative can download the application form, the information and documentation required, at: http://www.bolsavalencia.es/esp/BValencia/ServEmpresas/Pre_Mercado_1.aspx. An area within the Stock Exchange will be dedicated to providing those firms who join the process to better understand the functioning of this financing tool.
The principal aim of this initiative is to give those start-ups that take part, the support they need to develop the competences that market regulations require, and to enable them to get funding through the capital markets managed by BME Group companies.
The start-ups interested in joining the pre-market environment must fulfil the following requirements:
- Be public limited companies ("sociedades anónimas") or private limited companies, and have been operational for at least 2 years.
- Submit their audited financial statements for the last 2 financial years
- Publish their 3-year business plan and be seeking funding of between €500,000 and €2 million, 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 administered by BME Group companies.
The aim of the pre-market environment is, "to enhance the visibility of the companies taking part in it, to connect businesses with investors through specific events such as Investor’s Day and Transaction Day, and to train professionals, companies and investors/business in capital markets (official secondary and alternative markets)” , according to Big Ban angels' President, Tomás Guillén.
In addition, Vicente Olmos, Project Manager at BME and Chairman of the Valencia Stock Exchange, pointed out that: “BME wants to get closer to the smallest businesses in the economy, those which have just been formed, have strong growth prospects and major funding needs. The initiative provides training services and support for the strategy of those companies that, one day in the future, will be able to join the MAB and subsequently other capital markets.
Another of the main aims of this initiative is to demonstrate the progress that the companies have made in terms of compliance with regulatory requirements, mainly for access and permanence in markets, reporting obligations and corporate governance.