Listing on the Spanish
Stock Exchange
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61
STRUCTURE ORGANISATION AND OPERATION
OF THE SPANISH SECURITIES MARKET
C. InResearch. Analysis for
listed companies
In 2011, BME and the Spanish Institute of Financial
Analysts (IEAF) created InResearch, a new independent
financial analysis service for companies listed on the Spa-
nish stock market.
These companies wishing to receive greater research
coverage may apply for the service, through which the
company’s shares will be covered by the most appropriate
analyst of all that make up InResearch. The new service
offers companies a raft of advantages such as the indepen-
dence, quality and dissemination of the reports, all at a
highly competitive price.
This tool may be of particular interest to new com-
panies that are hoping to obtain finance by listing on the
MAB. To date, MAB listed companies have achieved in
excess of €81 million of capital, attracting new partners
who place their trust in these companies’ projects and ma-
nagement in the medium to long term.
Moreover, this service may increase the analysis avai-
lable on companies listed on the continuous market that
have very little coverage. 24% of companies on Spain’s
continuous market are actively followed by at least three
analysts.
To guarantee the quality of this service, InResearch
has established a transparent, professional, and disciplined
analyst selection process in accordance with best practi-
ces applied to financial analysis in the market. A Techni-
cal Analysis Committee made up of five members, of high
standing in the Spanish financial research sector will over-
see selection of the most suitable analyst for each com-
pany and will ensure the quality and independence of all
research produced.
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