Over the past year, small funds have been emerging to support Mab companies. Udekta capital, for example, has already invested a small amount in Altia and in Zinkiaboth listed companies with a clear outlook for growth and international expansion.
Now, Inveready has announced the launch of a new fund for continuous market companies in Europe, especially the MAB and the French Alternext: Inveready Convertible Finance.
The €40m fund is a debt fund. The investment will be through convertible bonds, which will have a repayment term of between five and seven years, and can be converted into shares from the third year. The company expects the first closing before the summer.
This new fund is inspired by Providence Equity Partners' deal in Más Móvil last summer. The mobile operator is Inveready's main investee. The US firm invested between €165 million and €200 million through long-term convertible bonds, acquiring PepePhone and Yoigo.
Masmovil, fastest growing company
Masmovil has soared on the stock market, growing by 78% so far this year. The company closed in July 2016 a capital increase 160 million at a price of 19.55 euros per share. The revaluation since then has doubled. Masmovil closed yesterday at a price of €47.7.
These operations and the capital increase have allowed Masmovil to grow considerably in market share. According to data provided by the Comisión Nacional de los Mercados y la Competencia (CNMC) in the last four months for which public data is available - from October 2016 to January 2017 - MásMóvil has captured 53% of the growth in the fixed broadband market. That means that, between those four months, the total fixed broadband customer base in Spain has increased by 279,000 lines, from 13.51 million to 13.79 million. In those four months, MásMóvil added 148,000 lines, or 53%, according to the CNMC's accounts.
If recently we told you in a post that Enerkia had carried out a round with the aim of going public on the Mab, now other companies in different sectors have also carried out rounds with the same objective.
Protorapid, for example, is a Catalan company in the field of 3D printing, which will carry out a €6M capital increase with the aim of going public on the MAB. Protorapid plans to market 30% of its value and raise approximately €1 million in financing, which would make it the first Spanish 3D printing company to be listed on the MAB.
Protorapid plans to market 30 % of its value and raise approximately one million euros in financing, which would make it the first Spanish 3D printing company to be listed on the MAB.
Another company that plans to list on the MAB and has carried out a capital increase to do so is Bitcoin Investors Trust (BIT), which specialises in investing in technology start-up projects related to cryptocurrencies, especially bitcoin.