Netex goes public on the MAB: the first Spanish company in the e-learning sector to be listed on the stock exchange.

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BY : Diego GutiérrezOctober Tue, 2017
Following the approval received from the Board of Directors, Netex Learning Technologies is today listed on the Alternative Stock Market (MAB), becoming the first Spanish company in the e-learning sector to be listed on the Stock Exchange.

About Netex

Founded in 1997 in La Coruña, Netex Learning is a Spanish company specialised in the development of applications and services for training in companies and educational institutions. Its product range includes from e-learning solutions for companies (learningCloud) to smart content for publishers, schools and universities (smartED).

Its learningCloud platform is an LMS (Learning Management System) ecosystem of applications and services in the cloud, totally modular and with the capacity to integrate hundreds of applications on the market, supporting all the organisation's training strategies.

The applications developed by Netex are closely related to gamification, learning management, social learning, content auditing, and many other areas pertaining to education. In addition, Netex offers content development services such as Big Factory (aimed at companies with large content creation needs), Gamification and Learning Stories (development of stories to create engaging learning experiences) and Microlearning (5-10 minute sessions based on the achievement of objectives).

Netex is currently present in more than 40 countries, either directly or through its channel of distributors. More than 2 million users use its products or contract its services in Europe, USA, Asia and Latin America.

Among its clients, the Galician company has important national and international entities, both in its corporate segment (Banco Santander, Inditex, Vodafone, Repsol, Aon, Tecnocom, Cetelem, ThyssenKrupp, BT and BBVA) and in education (Cambridge University Press, SM, Santillana and Anaya).

Netex Corporate Finance Analysis

With a 2016 turnover of more than €4.7M, Netex is one of the most important providers in the eLearning and EdTech (Education Technology) sector in Spain.

Netex's revenues have historically come from the educational services line, accounting in 2014 and 2015 for 78% and 72% respectively. However, in 2016 the corporate line has grown considerably to account for 45% of total sales. In addition, Netex has historically invested heavily in R&D&I in the development of its own products, accumulating an investment of close to €11M since its incorporation.

Netex goes public on the MAB: the first Spanish company in the e-learning sector to be listed on the stock exchange.


Netex goes public

Netex Learning Technologies is today listed on the Alternative Stock Market (MAB), following the approval received from the Board of Directors, once the requirements for inclusion in the segment of companies in expansion have been met. In this way, the Galician company becomes the first Spanish company in the e-learning sector to be listed on the Stock Exchange.

It will be the 40th company to list on the MAB, and the 15th to do so so far in 2017. Netex has closed a capital increase 4.5M, bringing its initial capitalisation to €16.5M. The reference price will be €1.86 per share.

Netex has decided to list on the MAB in order to continue and enhance its expansion and recapitalisation process, clearly focused on product and internationalisation, increasing its channel strategy and opening offices in the US.


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