SME AWARDS 2024: MMCITÉ IS OFFICIALLY ONE OF THE BEST IPOs IN EUROPE!
- Nov 19, 2024
- 3 min read
On Tuesday, November 19, 2024, the ceremonial announcement of this year’s European Small and Mid-Cap Awards 2024 took place, a prestigious competition organized by EuropeanIssuers (an association representing the interests of publicly traded companies in Europe), the Federation of European Securities Exchanges (FESE), and the European Commission. In the Rising Star category, intended for exceptional companies with a market capitalization below EUR 200 million, mmcité a.s. won first place. The company prevailed in strong competition from firms across Europe.
This competition highlights small and medium-sized enterprises that have gained access to capital markets through an initial public offering (IPO) and stand out through growth, innovation, or international success. In the Rising Star category, designed for exceptional companies with a market capitalization below EUR 200 million, the Czech company mmcité a.s. won, succeeding against competitors from across Europe.
Other European companies also appeared on the Rising Star shortlist, including the Italian company RES, focused on the circular economy and sustainable waste management, and the Spanish company Seresco, a technology company providing innovative solutions in IT services, payroll management, and digital transformation.
Awards were also presented in other categories, such as International Star, which recognizes international growth, and Star of Innovation, focused on companies that build their business on innovation.
ONE OF THE BEST IPOs ON THE START MARKET
mmcité a.s. completed its IPO in August 2023 on the START market of the Prague Stock Exchange. The company, which is a global leader in urban furniture manufacturing, raised CZK 160 million through the subscription of new shares, which it subsequently used for the acquisition of Kovostal, a Czech manufacturer of seats and grandstands.
“mmcité a.s. was already our seventh IPO, which we managed to complete in a record eight months. Despite the time pressure associated with the planned acquisition, for which the company needed financing, everything turned out excellently. The share subscription was significantly oversubscribed, and investor interest in mmcité shares has not weakened even on the secondary market, where the stock has strengthened by more than 100 percent since its IPO debut,” said František Bostl, founder of the STARTEEPO Group.
The acquisition itself brought the mmcité a.s. Group an expansion through a complementary product portfolio as well as its own production facility, which it can now continue to develop through investment. The IPO itself also generated strong investor interest, with investors appreciating their investment by more than 100%.
“I would like to thank all our investors for their trust. Being listed on the stock exchange is a tremendous prestige for us, but also a responsibility. I believe we will remain an attractive stock title in the long term and bring joy to our new shareholders,” said David Karásek, majority shareholder and Chairman of the Board of mmcité a.s., during the company’s stock exchange debut in 2023.
STARTEEPO BACK ON STAGE
This is not the first such award to reach the Prague trading floor. On November 14, 2023, the STARTEEPO Group received the prestigious European Small and Mid-Cap Awards 2023 in the Special Mention category in Bilbao, Spain, from the Federation of European Securities Exchanges, the European Commission, and EuropeanIssuers.
We received the award for our activities to date connected with the START market of the Prague Stock Exchange. The STARTEEPO Group has already helped 7 issuers enter the START market, and our sub-fund CZEGG VENTURES participated as a leading investor in a total of 5 transactions.
Your STARTEEPO Team
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