The Admission Committee of the Mercado Alternativo Bursátil (MAB) has submitted to the Board of MAB a favourable assessment report on the eligibility of GOWEX for admission to the market’s segment for Growth Companies, following a thorough review of all the information presented by the company. For the share offering to take place GOWEX will need the definitive approval by the MAB’s Board.
The Informative Report of GOWEX is already available at www.bolsasymercados.es /mab, where visitors can find information about the company and its business. Ernst & Young acts as Registered Adviser and Caja Madrid as Underwriter and Liquidity Provider.
Grupo GOWEX is a telecommunications company founded in 1999 and its two main business lines are: GOWEX Telecom Service, which develops B2B Telecommunication services through the neutral management of exchange on the Telecommunications Pools and GOWEX Wireless, whose activity centers around the development, management and operation of technical, regulatory and sustainable solutions for the existence of net roaming -based wi-fi cities, allowing the experience of “being connected to wireless Internet anywhere and at any time”.
GOWEX is the third company to list on MAB’s Segment for Growth Companies after Zinkia, and Imaginarium, a Spanish multinational that specialises in children’s educational toys, both of which took place in 2009. MAB offers financing for Growth Companies and diversification for investors.
The Comunidad de Madrid, the representative body of the Madrid region, has just announced fiscal incentives for individuals who invest in the Mercado Alternativo Bursátil, which are in addition to similar initiatives by other regions. Tax payers who invest in MAB will be able to deduct 20% of their investment from their personal income tax, with an annual deduction limit of €10,000 (equivalent to a maximum investment of €50,000) as long as the purchase of shares is maintained for at least two years.
By having their shares traded on MAB, these enterprises will be able to raise capital for new projects, obtain an objective valuation, expand their shareholder base, allow current investors to sell their shares and rely on a new instrument to boost the liquidity of their shares. The development of MAB should provide small capitalisation enterprises with additional benefits by introducing stricter management practices, enriching their corporate culture and generating greater transparency and visibility.