FacePhi begins trading on Euronext Growth Paris

Euronext today congratules FacePhi for its listing on Euronext Growth. This listing, which has become the second dual listing on Euronext carried out by a Spanish tech firm following, consolidates Euronext’s leadership position as a reference stock exchange for European SMEs in their growth phase, especially those within the tech sector.

FacePhi is a Spanish company, based in Alicante, specialising in facial recognition and mobile biometrics with a strong footprint in the financial sector. The firm is growing rapidly and rolling out its internationalisation strategy. So much so that its innovative technology, which harnesses the cameras of mobile devices as a method of identification, is becoming a service used by numerous banks and fintechs all over the world.

The tech firm, which has been listed on the Spanish Alternative Equity Market (MAB) since 2014, is now making the leap to Euronext Growth with the aim of enhancing its exposure to the international investment community and strengthening its strategy of expanding into new markets.

FacePhi (ticker: ALPHI) has begun to trade today, 25 February, via the admission of 13 277 083 shares that make up the company’s share capital. The trading price was set at €7.98 per share, representing a market capitalisation on the first day of trading of some 106 million euros.

At the market open ceremony, Javier Mira, CEO, has emphasized “the excellent business opportunities opening up to attract new investors internationally through this operation in the French stock market. Listing on both exchanges will allow us to increase our presence in front of the European investors and strengthen our position as leading players within the national and international markets.”

Susana de Antonio, Spain Representative and Head of the EU Tech Hub initiative at Euronext, highlights: “the dual listing is an essential tool to bring companies closer to an investor base that would otherwise be inaccessible. Getting listed on Euronext Growth, FacePhi has just made the leap to a market with more than 4,700 institutional investors from over 65 countries with the potential to become a key driver of the company’s international expansion. Specifically, more than 1,500 are active investors specialising in technology”.

Euronext is currently the leading stock exchange for European tech with 479 issuers. The company channels this activity through its EU Tech Hub initiative, which aims to offer fast-growth companies access to investors and financing. The dual listing of FacePhi brings the number of Spanish companies which have listed on Euronext markets to twelve, since Antevenio, a leading firm in the advertising and digital marketing sector, which was the first Spanish company to make the jump to Euronext Growth Paris in 2007 in a bid to drive its international expansion.

Next Finance February 2020


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