The Parlem Group has closed a capital increase worth 4 million euros, a figure that has been reached in just fifteen days and with oversubscription of requests in the preferential subscription and discretionary allocation period. According to the telecommunications operator, this oversubscription "validates Parlem's revaluation potential in the market for both current investors and new ones that have been attracted."
The capital increase process was approved by the board of directors in March with the aim of continuing to grow in the telecommunications sector in Catalonia and the Valencian Community after having achieved a positive EBITDA in the last fiscal year of 2023. In total, Parlem has issued 1,230,770 new shares for an effective amount of 4,000,002.50 euros. From now on, Parlem Telecom's share capital will be represented by a total of 18,853,326 shares, with a nominal value of 0.01 euros each. "It should be noted that both the current core investor group and the main shareholders have subscribed to the increase and have strengthened their position, which represents a show of confidence in Parlem's future growth project," explains the company.
This financial injection will allow Parlem to lead corporate merger and acquisition operations, as well as reinforce the company's growth, which assures that in these first months of the year it is meeting the financial forecasts for 2024. The increase in shareholding will also serve to strengthen the Parlem Group's balance sheet, in order to restructure bank debt and improve its conditions. Additionally, it also opens the possibility of expanding in the medium term to other regions of the Spanish State, betting on proximity and customer service as two of its main brand values.
On the other hand, the management positions of the Parlem Group are also expanded with the incorporation of Pablo Mancilla as the new Chief Financial Officer (CFO) and Arnau Rodoreda as Head of Corporate Development and M&A. Both will be part of the team led by the group's general director, Xavier Capellades.