Drought. This is the word that best defines 2019 in terms of stock market listings. In the year just ended, no company managed to make its debut on the Spanish capital market, at least as regards the Continuous Market. The only exceptions to the general lull were Holaluz on the Alternative Stock Market (MAB) and Grenergy Renovables migrating from the MAB to the Continuous Market.
To find a similar situation, we must look back to 2013, when the total amount was zero and the only two transactions that took place that year did not bring in any new money to the debutant companies.
The question now is whether the reticence regarding IPOs is temporary or will it also be with us in 2020. Right now, the only confirmed launch is Línea Directa but it will do so through a listing and therefore bypasses the need to sell the company to investors. We will have to see if other candidates the market has been talking about (Ibercaja, Wizink, Mediapro, Europastry, Soltec, Vips …) decide to take the plunge. Of course, if they finally do, in recent months lessons have been learnt that they should take into account if they want a successful operations.
In “Going Public? Guide for bold companies” you will find an analysis of this situation, the main trends in the capital markets and the keys to managing communication well and supporting a successful IPO in the current context