On 8 March, Clerp, an engineering company that wants to grow in the Latin American market, was listed on the MAB as a growth company.
Engineering company Clerp goes public on the MAB
Clerp was listed on the Mab last Thursday, the first expansion-stage company to exit in 2016, having completed a €1.05M capital increase that will allow it to address its expansion plan organically, through the opening of new subsidiaries.
Clerhp is an engineering company specialising in building structures that encompasses both technical and operational knowledge, offering design, calculation and technical assistance services in the execution of structural works, as well as actively participating in their construction management.
With this operation, the company seeks to advance in its expansion strategy, focused on countries with high growth potential and has already announced that its next destination will be Paraguay. It is currently present in Latin America, with subsidiaries established in Brazil and Bolivia.
The group also wants to grow inorganically, through the purchase of small companies, as well as through alliances with local engineering companies that are well positioned in their markets of origin. This strategy focuses on small cities of between 1 and 2.5 million inhabitants, which will allow it to position itself significantly in the short term, and later make the leap to large cities.
The business model is characterised by its turnkey projects, which means that it is present throughout the entire value chain, from design and calculation to the construction of the structure.
New regulation for MAB companies
The MAB has recently approved a regulation to reinforce transparency in the market, which responds to the changes in financial legislation that took place in 2015.
Among the main changes that have taken place are the following:
All companies with a share price of more than €500M over a period of more than 6 months must be listed within 9 months.
Companies in liquidation may not be listed on the MAB.
Companies will be obliged to submit the half-yearly accounts to a limited review by the auditor and the deadline for submission will be extended to four months after the end of the half-year.
Companies must have an auditor for public interest entities and issue a report to be constituted with a majority of independent directors and chaired by independent directors.
The registered advisor will have to be subject to supervision by the CNMV, the Bank of Spain or the ICAC.
If you think your company could be listed on the MAB, contact us. At Abra-Invest we will advise you on how to succeed in the process. Call us on + 34946424142 or fill in the contact form.
