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Cabify’s intention to go public will be carried out by Morgan Stanley.
The Spanish firm is expected to start listings for the second quarter of the current year or the first of 2024.
With a capitalization of approximately 2 billion euros, Cabify begins the process to enter the Stock Market.
At present, with the reopening of public spaces, in general people have found themselves with a growing transportation crisis, especially within large cities, an aspect that transportation platforms by application such as Uber, Didi and more recent Cabify, a Spanish firm that has recently announced its intentions to go public in the near future.
Prepaid transportation apps have become extremely popular, so much so that just over 35 percent of national app users like Uber, Cabify and Didi, they use this service at least twice a week, a service that is provided by just over 140,000 active driver partners throughout Mexico, who found this service a profitable activity.
Cabify shows its intentions to go public soon
It is due to the growing demand of users of transport platforms by application, that various firms have managed to grow exponentially, so much so that they have begun to be listed on the Stock Market, such is the case of the Spanish firm Cabify, which offers a transport network through applications for smart devices, with presence in countries such as Spain, Argentina, Chile, Colombia, Ecuador, Mexico, Peru and Uruguay.
According to what has been disclosed, the Cabify Board of Directors announced the recent initiative to start the procedures to start trading on the Stock Exchange, this for the second quarter of 2023 and the first of 2024an initiative that will be carried out by Morgan Stanley and with a capitalization of close to 2,000 million euros.
According to what has been indicated, the board of directors of the Spanish firm would have given the green light to start the project of listing in the per capita markets with an intention that goes from immediately to the next 12 or 15 months.
Cabify announced that it plans to go public in a year.
The company’s valuation would be close to 2 billion euros (2.2 billion dollars), the Spanish newspaper added, citing other unnamed financial sources. pic.twitter.com/5KDPScmkxz
— 𝗜𝗻𝗳𝗼𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰𝗼 (@infoeconomico) January 10, 2023
The IPO by the Spanish firm represents a growth opportunity for the entire transportation applications industry, as this service has become essential for hundreds of people, especially those who live in areas with little or problematic transportation. public, such is the case of CDMX, and the Metro Collective Transport System, which recently registered an unfortunate accidentin which there were fatalities and various injuries.
There was a crash between trains on Metro Line 3, emergency services on site. The Secretaries of Government, Citizen Security, Comprehensive Risk Management, and the Director of the Metro arriving at the scene. I’m reporting and on my way. Soon more information.
— Dr. Claudia Sheinbaum (@Claudiashein) January 7, 2023
For companies and firms, going public means making their financial assets available to a group of investors, who may have the possibility of negotiating with these assets to increase the value of the brand within the global market.
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