Alternative investment market
Tecum is a Registered Advisor of the Spanish Alternative Investment market (AIM) together with the professional team of Broseta Abogados assigned to the AIM.
The AIM represents an opportunity to access funding through the entry of new investors, capital for the development of new projects and liquidity for shares at a time of widespread credit constraints in the Spanish economy.
The heads of the AIM have identified over 5,000 companies in Spain which, given their size and business volume , would be candidates to be listed on this market, which will become a vehicle for the financing of growth and the improvement of the financial profitability of these companies in the near future.
This funding offers an alternative to "Venture Capital" operations which have traditionally been a source for raising funds, and has allowed for the rapid and solid growth of many companies not listed on the stock market in recent years
The Spanish Alternative Investment market (AIM) is a market created by Bolsas y Mercados Españoles aimed at small capitalization companies that wish to expand, with customized regulations designed specifically for them and costs and processes adapted to their features.
The advantages of being listed on the AIM include, inter alia, the following:
- It provides notoriety, prestige and brand image
- It facilitates obtaining financing for business growth through own resources
- It provides an objective assessment of the value of the company by the market
- It makes obtaining liquidity possible for the shareholders
The following is required of candidate companies wishing to enter the AIM:
- Their share capital must be fully paid and the company's shares must be freely transferable
- A Registered (Nominated) Adviser must be permanently appointed to verify compliance with these requirements and review the information presented and, once the company goes public, the Adviser should verify the listing requirements, review the information presented by the company, advise the Company on the regulations, be available to the MAB to respond to all their questions and notify the AIM of any possible incompliance.
- Appoint a liquidity provider
- Submit an admission document or if appropriate, prospectus registered at the Spanish National Securities Market (CNMV)
The role of Tecum is to advise our clients throughout the whole of the IPO process, from the planning of the process to adapt the company to AIM requirements until its subsequent stay in this Market with an objective focus and free from conflicts of interest.