Spain's Arteche to move to main stock market on February 2

About this update from Arteche Lantegi Elkartea Sa

Spanish electrical equipment maker Arteche Lantegi Elkartea BME:ART will move its shares to Spain's main stock market on February 2, the company said in a prospectus filed with the market regulator on Friday. The company will delist from the BME Growth market at the close of trading on January 30The initial listing price on the main market will be Friday’s closing price on BME GrowthThe prospectus cites a reference price of 22.4 euros ($26.67) per share as of January 23, implying a valuation of about 1.28 billion eurosArteche’s public free float stands at 12.12%, below the standard 25% requirement; the company has requested an exemption, citing distribution among 1,127 shareholdersArteche plans to sign a new liquidity contract with Kutxabank Investment after admission to tradingFrom January 2024 to December 2025, the share price fluctuated between 3.56 euros and 24 euros, a 574% variation($1 = 0.8391 euros)

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