BME and ICO highlight collaboration between public-private sector as key to overcoming the COVID-19 crisis
SECOND DAY OF THE MEDCAP FORUM
- José Carlos García de Quevedo, Chairman of ICO, announced the purchase by the state-owned bank of commercial paper worth 210 million euros through 12 programmes registered with MARF
- Juan Carlos Ureta, Chairman of Renta 4, stressed the need to promote corporate financing via the stock market
- Renewable energy takes centre-stage among the companies and sectors of the future
- Executives of telecommunications companies analysed the trend towards an increasingly virtual world
The second day of the Medcap Forum, held today, dedicated one of its panels to the role played by stock markets in the economy and especially, in times of crisis such as now. Entitled The markets and the IPOs, key elements of future growth, the debate pivoted on how markets can provide companies with the flexibility, visibility and diversification of financing sources needed by them, especially those of smaller size.
The panel, moderated by Jorge Yzaguirre, Director of Markets and Market Data, BME and Chairman, IEAF, had the participation of José Carlos García de Quevedo, Chairman, ICO and Juan Carlos Ureta, Chairman, Renta 4. Jorge Yzaguirre stated that it is necessary to promote initiatives that make it easier for companies to access the markets.
The Chairman of ICO explained the work of this institution in recent weeks. He announced that ICO has purchased commercial paper worth 210 million euros through 12 programmes registered with MARF, which mobilise issues worth 450 million euros. In the coming days ICO and BME will sign a framework agreement to implement the guarantee plan for commercial paper programs registered with MARF with a value of 4 billion euros, which the Council of Ministers approved in recent weeks. García de Quevedo also stated that ICO, BME and Ascri work together to encourage companies to access the markets.
The Chairman of Renta 4 said that listed companies bear an excessive regulatory burden and stated the need to promote business financing through the capital markets.
All the speakers pointed out the importance of public-private collaboration as one of the keys to overcoming the crisis caused by the coronavirus.
The panel Resilience and transformation against the Covid-19, held this morning, addressed the adaptation and response demands that the new scenario poses to companies. Alfredo Avello de la Peña, CFO, Ence, and Raúl Gómez, CFO, Vidrala, spoke on this panel, moderated by Ignacio Lezáun, Partner, Deloitte. At the end of the panel both speakers converged on the importance of sustainability vis-à-vis the new environment brought about by the Covid-19 crisis.
Under the connecting thread entitled Reimagining the new tomorrow: companies and sectors of the future, two panels were held, dedicated to renewable energy and the telecommunications sector.
The first one, moderated by José Tamayo, General Manager of Markets, GVC Gaesco, had the presence of José Castellanos, CEO, Enerfin, representing Elecnor, Carlota Pi, Co-founder and Executive Chairwoman, Holaluz and Ignacio Artázcoz, Executive Chairman, Solarpack. The speakers described their companies’ business models and all of them highlighted that the growing importance of renewable energy in society is here to stay and there is no turning back.
On the second panel, moderated by Julián Cañadas, General Manager Iberica, Adobe, several telecommunications companies were represented in relation to the challenges posed by the Covid-19 crisis and the role they have played during it. Fernando González, CEO, Ezentis, Diego Cabezudo, CEO, Gigas and Meinrad Spenger, CEO, Masmovil participated in this panel. The speakers on the panel dealt with current and future challenges in terms of connectivity, cloud-based information, digitisation and customer experience.
In parallel to these panels numerous meetings between companies and investors were held. In total, over 1,200 meetings will take place throughout the event.
Tomorrow will be the third and last day of the 2020 Medcap Forum, during which the meetings and panels will continue, and will be dedicated, among other issues, to the impact of the Covid-19 crisis on real estate activities and the trends and demands associated with the digitisation of the economy.
Tomorrow there will be a panel about investing in small and medium caps, in which Lola Solana, Head of Small Caps & ESG Equity Funds, Santander Asset Management, will participate, while another one will address financing solutions through the Fixed Income market. This last panel, which will be moderated by Raquel Arechabala, Director of Investments and Business, Norbolsa, will be attended by Gonzalo Gómez Retuerto, General Manager of BME Renta Fija and Adolfo Estévez, Managing Director, Axesor.
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