The consulting firm Llorente y Cuenta announced on Wednesday its intention to start trading on the stock market. The Spanish firm of communication, public affairs and marketing intends to carry out subscription offers for new shares aimed at qualified institutional and retail investors, and as approved earlier this month by its shareholders’ meeting, it has requested the admission of its shares in BME Growth (the old Alternative Stock Market) . Renta 4 will be the placement entity and the Pérez Llorca law firm will lead the legal advice of the operation.
With the offer, the company expects to raise a maximum of 10 million euros, which the consultancy, in a statement, points out that it will use to boost its growth. The company’s new business plan seeks to double its size in the next five years through four levers: integrating technologies into its portfolio of services, making acquisitions, sealing strategic alliances in other markets, and boosting organic growth.
The consulting firm has not revealed the price at which it intends to start trading, a variable that allows knowing how much the company is valued at, and explains that it will disclose more details about the IPO offer in the information document of incorporation to the market that BME Growth will publish soon. The operation comes two months after there were movements in her breast. The French firm of private equity MBO agreed in April to sell its 30% stake to the communication consultancy’s partners almost six years after acquiring it.
Llorente y Cuenca earned 44.7 million euros in 2020, 7% less than the previous year, when it obtained the best results in its history – it billed 48 million. The consulting firm blamed the drop on the impact of the exchange rate on its business in Brazil, Mexico and Argentina. However, the trend is positive: the firm estimates that it has registered growth rates of over 15% in the last 20 years. And since 2014, when it entered 20.7 million euros, its income has more than doubled. The next goal is to exceed 100 million euros in 2024.
Founded in 1995, Llorente y Cuenca currently has more than 600 employees distributed in 16 offices in 12 countries, the majority in Latin America. They are organized into 18 areas of expertise. Its president and founder, José Antonio Llorente, is optimistic: “The communication sector presents excellent growth prospects, especially in segments related to the opportunities that exponential technologies offer”.