The Parlem Group has achieved a capital increase worth more than €4 million in just fifteen days, with an oversubscription of requests during the preferential subscription and discretionary allocation period. This validates Parlem’s market revaluation potential for both current and newly acquired investors. The capital increase process was approved by the Board of Directors in March to continue expanding in the telecommunications sector in Catalonia and the Valencian Community, following the achievement of a positive EBITDA in the last fiscal year of 2023.

During the capital increase process, with rights reserved for current shareholders, subscription requests for new shares exceeded the value set by the Board of Directors. These requests represent the issuance of 1,230,770 new shares in the company for a total effective amount of €4,000,002.50.

In the coming days, the shares will be disbursed, and the Board of Directors will execute the capital increase, resulting in Parlem Telecom’s share capital being represented by a total of 18,853,326 shares, each with a nominal value of €0.01. It is worth noting that both the core current investors and the main shareholders have subscribed to the increase, reinforcing their positions and demonstrating confidence in Parlem’s future growth plans.

In fact, this financial injection will enable Parlem to lead corporate merger and acquisition (M&A) operations and strengthen the company’s solid and reliable growth. During the first months of this year, the company has been meeting its financial forecasts for 2024. The increase in shareholding will also bolster the Parlem Group’s balance sheet, allowing for the restructuring of bank debt and improving its conditions. Additionally, it opens the possibility of expanding to other regions of Spain in the medium term, maintaining proximity and customer care as two of its main brand values.

New appointments

Additionally, the Parlem Group’s leadership team has been expanded with the appointment of Pablo Mancilla as the new Chief Financial Officer (CFO) and Arnau Rodoreda as Head of Corporate Development and M&A. Both will join the team led by the Group’s CEO, Xavier Capellades, who has been driving Parlem’s growth in recent months.

Mancilla, an Economics graduate, has more than 30 years of experience as an executive and board member in publicly traded companies and those backed by private equity. He has worked in companies such as Ernst & Young, CNMV, Agrupació Mútua, Equivalenza, and La Sirena, among others.

Rodoreda, a graduate in Business Administration and Management, has solid experience in corporate transactions and strategic consulting. He has worked as an analyst at Crea Inversión, a company specializing in SMEs and fast-growing tech startups. At the Parlem Group, he will lead corporate development, mergers and acquisitions, and investor relations.