Oviedo is in luck. the technological Seresco debuted on the BME Growth with a capitalization of €35.5 million, shooting up its first set price by 20% and its shares reaching 4.44 euros. In this way, the valuation of the company reaches 42.6 million euros, so its revaluation rose by 16.2%.
Seresco thus becomes the third company in the Spanish technology sector to break into the Stock Market and the twelfth in general so far in 2022. Initially, it has placed 2.5% of the capital with a prior ‘listing’ and it will be listed in the ‘fixing’ mode, although they hope to go to the continuous mode. In addition, its free float (shares that can be traded publicly and are not restricted) has initially been 25%.
Carlos Suárez, CEO of Seresco, has assured that the company’s IPO represents a milestone and a qualitative leap to develop a new strategic plan for growth and internationalization.
In the same way, with your entry into the BME, you gain visibility for the technology sector, key in the Spanish economy. “This is the result of a long-distance race, not a speed one,” he pointed out. However, the president of Seresco sees it necessary for European funds to reach SMEs promptly and well channeled so as not to slow down their growth, especially in their sector.
With its listing on the Stock Market, Seresco has changed its structure of shares, in such a way that they are spread over a 66% in the hands of the Suárez family, 18% among the managers, 8% in treasury stock and 8% in the hands of the rest of the shareholders.
Likewise, Solventis acted as underwriter and liquidity provider and VGM Advisory Partners as a registered adviser in the entry of Seresco in the BME.
The oldest company in the IT sector in Spain
Since its arrival on the stock market, Seresco now proposes boost your organic growth Through recurring and scalable business, boost cross-selling to current customers and develop cutting-edge solutions. Nor should we forget its claim to seek purchasing opportunities in strategic segments and strengthen its presence both in its current market and in new horizons.
Seresco intends to reach 2025 with almost €70 million in income due to its internationalization plan with inorganic companies, tripling its gross operating profit to 10.5 million euros, taking into account that they closed the last year with 3.1 million euros.
But its horizons are not limited to Spanish territory and Seresco intends to develop a inorganic growth that leads him to acquire international companies, especially in Portugal and Latin America. Its foreign business is expected to increase from 11% to 20% in the coming years.
Seresco recently acquired the cybersecurity company PWS, focused on the development of perimeter security solutions and WIFI infrastructure. He has also signed his union with sigeathe Asturian consultancy for Information Protection Systems.
It is the oldest company in the IT sector in Spain. It has 100% national capital and from now on it seeks to broaden its shareholder base and gain solvency, transparency and brand image.
Founded in 1969, it is specialized in the development of software solutions and the provision of ICT services. Seresco has service centers throughout Barcelona, Madrid, Vigo and, of course, Oviedo. But Seresco’s presence also reaches Portugal, Costa Rica, Peru and Colombia.
Currently, Seresco owns close to 700 employees Y more than 1,500 clients. Alcampo, Peugeot-Citroën, Sanitas or Swarovski are some examples in the private sphere, and the Government of the Principality of Asturias, the Xunta de Galicia or the Junta de Castilla y León in the public sphere.
Other giant steps taken by Seresco recently have been the appointment of Alejandro Blanco as director of Organization and International Relations, and the incorporation of three independent directors to its Board of Directors: Luis Pardo, former CEO of Sage, Max Gosch, audit expert and sustainability, and Ruperto Iglesias, ASATA president and expert in auditing and finance.
