25 June 2019
Three socimis, Millenium, Inbest and La Finca, will begin trading on Spain’s Alternative Stock Market (MAB) in the near future. After they do, socimis will account for 69 of the 103, listed companies on the exchange, equal to two-thirds of the index.
The MAB was created in 2006 and opened to small and medium-sized companies in 2008. The platform is a good vehicle for such companies since trading is normal and the market is well-regulated, but the bureaucratic hurdles to list a new company on the exchange are less intimidating.
The Spanish government approved the regulatory framework for socimis in 2012, and Entrecampos and Promorent first went public in 2013. General de Galerías Comerciales, GMP Property and Testa Residencial are the three largest listed socimis on the MAB.
To join the MAB, companies must have fully paid-up capital, audited accounts and list through an initial public offering with a minimum free float of €2m.
Original Story: ABC – Moncho Veloso