Fourth tier club Intercity list on Spain’s second tier stock market

November 1 – Intercity de Alicante has become the first Spanish club to list on the stock exchange, trading on the BME Growth market, Spain’s second tier exchange dedicated to small- and medium-sized companies.

Following an extraordinary general assembly in May, the club took the decision to go public as a way to move away from a single-investor model and plan for a new sports complex as well as a new 7,000 capacity stadium.

On Saturday, Intercity began trading on October 29, with shares valued at €1.20, giving the valuing the club at €5.56 million.  Among its 400 shareholders, Intercity counts former Spain international Juanfran and Perfecto Palacio, the president of the local business confederation.

Founded in 2017, the club has been steadily climbing the football pyramid and features in the Segunda Division RFEF, a semi-professional league and the fourth tier of the men’s game (which has 90 teams divided into five groups). The club is currently joint fourth in its league, a point off second place.

Club president Salvador Marti said: “Intercity is not profitable and will continue to be so until the second division; when we reach this league, the club will start earning money with the television rights.”

Marti added: “Any previous successes do not guarantee future results.  A club with four years of existence has achieved three promotions and the only time the club was not promoted was after elimination in the playoff.”

The first club in Spain to go public, Intercity is the 23rd European club ever to be listed on the stock exchange. Ajax Amsterdam, Borussia Dortmund, Manchester United and Juventus were among the predecessors.

Contact the writer of this story at moc.l1638373860labto1638373860ofdlr1638373860owedi1638373860sni@i1638373860tnuk.1638373860ardni1638373860mas1638373860