- The company, which is the second to join the main market of the Spanish stock exchange this year, debuts with a valuation of 1.9 billion euros and a reference price of 4.25 euros per share
BME today welcomed Inmocemento. The company has debuted at a reference price of 4.25 euros per share, which implies a stock market valuation of 1.9 billion euros. This is the second IPO in Spain this year, following Puig's listing in May. If BME's growth market companies (BME Growth and BME Scaleup) are added, 25 companies have already been listed on the Spanish financial markets this year.
Inmocemento was formed in a process of structural modification of the group of companies whose parent company is FCC, listed on the Spanish Stock Exchange. As of today, FCC shareholders have received the same number of shares in Inmocemento as they had in FCC. Inmocemento started trading at 12 noon.
The Inmocemento group focuses its activity on the real estate business through the development of rental assets and real estate development and land management, as well as on the cement business through the development of the manufacturing and marketing of cement and its derivatives.
‘We are delighted to welcome Inmocemento, which after the spin-off will have the advantages of being a listed company in its own right, such as reputation, visibility, the ability to finance itself on a recurring basis and access to national and international investors. The stock exchange offers listed companies a wide range of possibilities depending on their needs and future plans,’ explains Javier Hernani, CEO of BME.
Jos Dijsselhof, CEO of SIX and Chairman of BME, said: ‘The arrival of a new company on the stock exchange is always good news. After two of the world's largest IPOs of the year on the SIX markets in Switzerland and Spain, we are delighted to welcome Inmocemento to the Spanish stock exchange. Each new listing on the financial markets encourages more companies to follow this path, which is positive for the business fabric and the economy as a whole’.
The company has started trading with the ticker symbol “IMC”.
