Vanadi Coffee listed on Madrid Stock exchange
July 22 - 2023
Coffee Geography Magazine
Salvador Martí, president of Vanadi Coffee, together with the company's CEO, Vicente Terol, gave the traditional ringing of the bell on the floor of the Madrid stock market announcing the listing of IPO on the BME Growth. The BME Growth is a sub-market of Bolsas y Mercados Españoles, the Spanish company that deals with the organizational aspects of the Spanish stock exchanges and financial markets, which includes the stock exchanges in Madrid, Barcelona, Bilbao and Valencia.
Vanadi Coffee is now the first Spanish coffee shop chain to go public. With a starting price per share of 3.28 Euros and a capitalization of twenty million Euros, Vanadi Coffee has started to rise in the first session.
The president of Vanadi Coffee, Salvador Martí, expressed his satisfaction for completing the IPO process and beginning to trade on BME Growth.
“We are happy, but now we have to continue working because this is a long-haul road,” Martí assured after the bell rang. The president of Vanadi Coffee explained that the objective of the company when starting to trade is "to obtain financing in the stock market and thus not have indebtedness".
“We are ambitious and we want to reach 25 open new shops by the end of the year and double this number by 2024,” he assured.
Salvador Martí stated that the company's goal is to reach a turnover of 15 million euros and progress in the opening of new cafes in different Spanish cities:
"One of our added values is that we have a more local product, with our own workshop, and that we also differentiate it by adapting it to each city. We not only want to be in the “premium” areas of the cities but also in the periphery, in the neighborhoods, so that Vanadi reaches any citizen”. Salvador Martí insisted that "we are going to be very transparent with our shareholders, showing the results on a monthly basis."
For his part, the CEO of Vanadi Coffee, Vicente Terol, thanked the work of his entire team to get to this day and assured that "listing on BME Growth gives us the opportunities for development and growth that we are looking for".
“Thanks to investors, shareholders and clients, this is an important step that encourages us to continue growing and achieve the objectives set out in our business plan”, he stated.