Miogroup, owned by former soccer player Arbeloa, goes public valued at 30 million to make acquisitions
The marketing consultancy Miogroup debuts this Thursday on the secondary stock market, known as BME Growth, valued at 30 million euros. The company comes to the park controlled by the Arbeloa brothers, including Álvaro, who was a player for Real Madrid, Liverpool or the Spanish soccer team. The company aims to raise funds to make purchases from other companies in the sector with which to grow and expand its presence throughout Spain, as explained by its managers before the traditional bell ringing. The company has shot up 50% in the early stages of its listing on BME Growth, to 6.75 euros per share.
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Miogroup is the seventh company to go public so far this year on the secondary stock market (as precedents are Endurance, Parlem or EIDF, which soared to double digits at its premiere) and it does so after having carried out an expansion of capital with which, they point out, demand covered more than five times supply. Currently, the Arbeloa brothers retain 90% of the shares of the company. Yago, president of the company, will retain 72% of the group, while Álvaro will remain with 11%. The third of the brothers, Raúl, will have slightly less than 6%.
The one who was the defender of the white club has confirmed that the objective of the brothers is to remain in the shareholding of the company in the long term, ruling out that they will sell their shares in the IPO operation. "We want to continue growing with this company that is a family, it is the beginning of something much bigger," said the former player.
The president of the company, Yago Arbeloa, has indicated, in the press conference prior to the bell, that the digital marketing consultancy seeks to accelerate its inorganic growth strategy - acquisitions of other companies - with the aim of covering more geographical areas from the country. In that sense, he has indicated that the company's financial advisers are working on "identifying opportunities" within medium-sized companies. The stressed manager who seeks to acquire specialist companies with capacities that are not within Miogroup and that allow them to gain investment and negotiation volume in order to access the market of large clients.
For his part, the CEO, Francisco Jiménez-Alfaro, recalled that the consulting firm has a presence in Mexico and that "possibly" they will begin to investigate new markets in the short and medium term, although he has insisted that the priority is to consolidate the portfolio of solutions in Spain. Miogroup goes public at 4.5 euros per share, a price that values the consultancy at 30 million euros, after a capital increase of three million euros that received an oversubscription of 5.5 times.
The company, which has avoided giving growth forecasts during this year as it is immersed in the stock market debut operation, closed last year with a turnover of 45.7 million euros and a profit of 694,000 euros. The Group, which was born in 2012, operates under several registered trademarks, the main ones being MIOGROUP #be different, HMG, Artyco and Voilà Media. Since its foundation, it has grown through the acquisition of other companies in the sector, which it now hopes to extend with the funds provided by the IPO. It has 165 employees.
