Sngular goes public with BME Growth
Sngular will now begin trading on Spain’s BME Growth exchange. The decision to go public, according to Sngular’s president, Jose Luis Vallejo, is driven by Sngular’s desire to continue growing and expanding internationally.
Sngular has already been experiencing spectacular international growth over the past few years but this IPO will ensure that Sngular continues to compete for the largest, highest profile projects around the world thus ensuring that it will keep attracting the best talent globally. The IPO also complements Sngular’s long-standing policy of prioritizing sustainable and consistent growth over short-term results. Finally, the IPO will result in even greater trust from our clients and investors who will now have increased transparency into our operations and governance.
Why an IPO now?
It's a fact that, over the past few years, the technology industry has been consolidating at an increasingly rapid pace. Small companies have been integrated into medium and large companies producing a concentration effect in the market.
Given these industry dynamics, it's not surprising that Sngular has been approached by many smaller companies attracted to Sngular’s model and culture, seeking to integrate into Sngular. This has presented Sngular with an opportunity to grow in an intelligent and orderly fashion. In order to pursue this growth, however, Sngular must raise new capital, preferably without incurring debt. Hence, the IPO.
Sngular goes plural.
Sngular’s IPO means that for the first time, the general investing public will be able to purchase Sngular’s shares (ticker SNG), an opportunity which in the past was reserved only for Sngular’s employees and a select handful of investors.
Sngular’s founder and president, Jose Luis Vallejo, explains that the decision to trade on the BME Growth market to raise capital to fuel the company’s growth is consistent with Sngular’s inclusive culture:
“We wanted to open our doors and let anyone who believes in Sngular’s growth potential to be part of the company and benefit from our success.”
Sngular’s IPO: What happens now?
Going public will subject Sngular to the oversight of regulators (like the National Securities Market Commission (CNMV) in Spain). Those regulators are charged with promoting good corporate governance and protecting investors, especially retail investors. As a practical matter, that oversight will result in very few changes at Sngular. For instance, the company will now be governed by a Board of Directors. However, because Sngular long ago implemented the best governance practices required by the regulators (for example, conducting independent annual audits of its financial statements), going public will not result in any large changes in the way we run our company.
Going public also increases Sngular’s brand visibility, something that drives business growth and results in larger clients and projects. Finally, going public will help Sngular attract and retain the best talent by raising our company’s profile and making us more attractive to talent that is looking for a dynamic company that offers its employees the opportunity to share in the company’s growth.