Izertis expects to be listed on the Continuous Market in the first half of July
Izertis plans to list on the Continuous Market in the first half of July. The Spanish technology consulting firm chaired by Pablo Martín is finalising its move from BME Growth, where it has been listed since 2019, to the main segment of the Spanish stock market. The General Shareholders' Meeting today gave the green light to the transaction, which will now only await final approval by the Spanish Securities and Exchange Commission, which will analyse it next week.
Izertis will be the second company to be listed on the Continuous Market in 2025. It will also become the fifth company to make the leap from BME Growth (former MAB) to the main segment of the Spanish stock exchange. Such an operation has not taken place since 2022. The mode of incorporation will be by listing of existing shares, i.e. there will be neither an IPO nor an IPO. The final approval of the CNMV entails the delisting of its shares from BME Growth and admission to trading on the Continuous Market, for listing on the Madrid, Barcelona, Bilbao and Valencia stock exchanges, through the stock market interconnection system.
This was precisely one of the main items on the agenda approved at today's General Shareholders' Meeting: the "request to delist all of the shares representing the Company's share capital from the BME Growth segment of BME MTF Equity and simultaneously request the admission to trading of all of the shares representing the Company's share capital on the Stock Exchanges through the Spanish Stock Exchange Interconnection System".
This is a strategic operation for the company that will allow it to offer greater liquidity to its shareholders, as well as facilitating access to national and international institutional investors.
Capitalisation
The capitalisation of Izertis on 06/26/2025 is 255.94 million euros. From November 2019, the date of its listing, to 26/06/2025, Izertis has appreciated by 440%, multiplying the value of the share by 5.4 times (from 1.70 euros per share on 25/11/2019 to 9.18 euros per share on 26/06/2025).
The multinational technology company's management team and employees hold a position of more than 16%, specifically 16.7%, making them the second largest shareholders after its chairman and founder, Pablo Martín, who holds 47.54%. The Anémona Group owns 5.68%, while the free float is 28.94%. Izertis has always considered the alternative market, where it was listed in November 2019, as an "intermediate step" towards the Continuous Market and the exit operation confirms the roadmap that the Spanish technology consultancy has been executing over the last five years.
The company features coverage from four independent analysts, Renta 4, GVC Gaesco, JB Capital Markets and Alantra. They all provide information on the company's situation and its immediate future and give a target price for the company's shares in the range between 11.8% and 16.1% euro per share.
Internationalisation
The technology multinational's 2024 results were €138.1 million in revenue up 13.8% on 2023, while Normalised Ebitda came in at €20.7 million, an increase of 10.9%. Izertis' EBITDA margin on revenues, at 15%, is among the best margins recorded in the technology consultancy sector.
Izertis continues to strengthen its position as one of the leading national technology consultancies and advances in its position as a global and international company, with three production hubs in Europe, Latin America and India, which allow it to diversify its global capabilities and provide flexible access to personnel with high technological skills.
The international expansion envisaged in the company's roadmap has resulted in five international acquisitions in the last year. The last one took place last April, with the integration of the Central American group Coderland. In the same month, the acquisition of the MBC Group was completed, marking the third acquisition in the UK, after Assured Thought (January 2025) and Projecting (July 2024), and the fourth in Europe (the Swiss Digiswit arrived in September 2024).