In the medium term, Cox aspires to a place on the Ibex 35 and to raise its current ‘free float’

MADRID 15 Nov. () –

Cox, after its jump to the Continuous Market, aspires in the medium term to occupy a place on the Ibex 35, for which it will work on raising its current ‘free float’, which is currently below 20%.

In statements to the press after the company’s stock market debut, the third this year in the Spanish market after those of Puig and Inmocemento, the founder and president of the company, Enrique Riquelme, was convinced that “little by little With the quarter-by-quarter income statement,” Cox will be able to “exceed all forecasts.”

In this regard, he noted that the company is confident of being able to occupy a place in the select group of the Ibex 35 through growth and fulfillment of its business plan in the years 2025 and 2026. “If these two years are fulfilled as we plan , because at least the company will have that value. We want the market to recognize it and have a value that can be close to the Ibex 35,” he said.

However, he acknowledged that to qualify for the most selective index on the Spanish stock market, the group will have to face the “battle” of raising its current ‘free float’. “We are aware and we will work so that the company has the best possible liquidity,” he assured.

Riquelme defended the company’s ‘roadmap’, which does not foresee distributing dividends in the next three years and will dedicate “every euro that comes in” to generating recurring Ebitda and thus seeking growth. “We will assess what time is appropriate to start distributing by dividing,” he indicated.

WORKING ON THE NEXT BUSINESS PLAN.

In addition, Riquelme announced that Cox is already working on the next business plan. “There are many opportunities that we are seeing in countries that we know very well, in strong currencies and with stable cash flow,” said the manager, who added that Cox’s ‘roadmap’ is based mainly on the water business, although accompanied by the energy area.

On the other hand, he assured that, despite various adjustments in the offer and having to debut at the lowest price of the marked range – 10.23 euros per share – “at no time was there any question of canceling the IPO.”

“The market is volatile and we have had to lower the price a little,” said Riquelme, who, in any case, valued that being a listed company allows you to have instruments to “continue growing and attracting talent.”