{"id":1811012,"date":"2026-08-07T14:46:33","date_gmt":"2026-08-07T12:46:33","guid":{"rendered":"https:\/\/lexpress-franchise.com\/es\/articulos\/salida-a-bolsa\/"},"modified":"2026-08-07T14:46:37","modified_gmt":"2026-08-07T12:46:37","slug":"salida-a-bolsa-como-hacerlo-en-currentyear-para-que-crezca-tu-empresa","status":"publish","type":"post","link":"https:\/\/lexpress-franchise.com\/es\/articulos\/salida-a-bolsa\/","title":{"rendered":"Salida a Bolsa en 2026: c\u00f3mo hacerlo para que crezca tu empresa, procesos, normas"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Salir a Bolsa puede ser la palanca definitiva para escalar una empresa: abre el acceso a capital fresco, multiplica la visibilidad ante inversores y aporta credibilidad ante clientes y franquiciados. En Espa\u00f1a, mercados especializados como BME Growth y una normativa europea que simplifica el folleto informativo hacen que la cotizaci\u00f3n burs\u00e1til sea, en 2026, una opci\u00f3n m\u00e1s accesible que nunca para los negocios en expansi\u00f3n.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-f928ab45975a7e4ac22bf6b9a5bafff3\">\u00bfC\u00f3mo cotizar en Bolsa? Todo lo que debes saber en 2026<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Durante d\u00e9cadas, <strong>salir a Bolsa<\/strong> fue sin\u00f3nimo de grandes compa\u00f1\u00edas cotizando en el Ibex 35 o el Mercado Continuo. Hoy <strong>el panorama ha cambiado<\/strong>: los mercados alternativos para empresas en crecimiento, la menor burocracia para la aprobaci\u00f3n del folleto informativo y la reducci\u00f3n del porcentaje m\u00ednimo de capital en circulaci\u00f3n han transformado la bolsa en una <strong>v\u00eda de financiaci\u00f3n<\/strong> viable tambi\u00e9n para <a href=\"https:\/\/lexpress-franchise.com\/es\/nuestras-franquicias\/\">redes de franquicias<\/a> y pymes medianas. El proceso exige, sin embargo, planificaci\u00f3n rigurosa, recursos adecuados y el apoyo de asesores especializados. Este art\u00edculo detalla la normativa vigente, los pasos del proceso y los pros y contras de dar el salto.<\/p>\n\n\n<div class=\"lf-gut-blog-post-cta-efference\" style=\"border-color: var(--primary);\"><div class=\"lf-gut-blog-post-cta-efference__icon\" style=\"color: var(--primary);\"><svg class=\"icon-thumb-up\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"35\" height=\"35\" viewBox=\"0 0 48 48\" fill=\"none\" style=\"color: var(--primary);\"><path fill=\"currentColor\" d=\"M21.4998 4.89989L20.8499 4.13985L20.8474 4.14202L21.4998 4.89989ZM26.5397 4.89989L27.1922 4.14197L27.1842 4.13526L26.5397 4.89989ZM29.6998 7.62011L30.3547 6.86441L30.3522 6.86223L29.6998 7.62011ZM40.4197 18.3401L41.1776 17.6877L41.1754 17.6851L40.4197 18.3401ZM43.1398 21.5L43.8998 20.8501L43.8977 20.8476L43.1398 21.5ZM43.1398 26.54L43.8977 27.1924L43.9044 27.1845L43.1398 26.54ZM40.4197 29.6999L41.1754 30.3549L41.1776 30.3523L40.4197 29.6999ZM29.6998 40.4199L30.3521 41.1778L30.3547 41.1756L29.6998 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18.3583C14.1585 18.9183 13.9998 19.7102 13.9998 20.48H15.9998ZM16.8798 19.7H17.8198V17.7H16.8798V19.7ZM17.8198 19.7C18.3941 19.7 18.5477 19.8104 18.574 19.8344C18.5776 19.8376 18.6998 19.9386 18.6998 20.48H20.6998C20.6998 19.7014 20.532 18.9123 19.9205 18.3556C19.3318 17.8195 18.5455 17.7 17.8198 17.7V19.7ZM18.6998 20.48V29.6399H20.6998V20.48H18.6998ZM18.6998 29.6399C18.6998 30.1755 18.5805 30.2788 18.5752 30.2838C18.5511 30.3061 18.3996 30.4199 17.8198 30.4199V32.4199C18.56 32.4199 19.3484 32.2937 19.9343 31.751C20.539 31.191 20.6998 30.4043 20.6998 29.6399H18.6998ZM17.8198 30.4199H16.8798V32.4199H17.8198V30.4199ZM16.8798 30.4199C16.2914 30.4199 16.1424 30.3079 16.121 30.2883C16.1152 30.2829 16.0888 30.2593 16.0604 30.1704C16.0287 30.0714 15.9998 29.9055 15.9998 29.6399H13.9998C13.9998 30.4097 14.1585 31.2015 14.7685 31.7616C15.3571 32.302 16.1482 32.4199 16.8798 32.4199V30.4199Z\"\/><\/svg><\/div><span class=\"lf-gut-blog-post-cta-efference__title lf-transform-none\">Tambi\u00e9n te puede interesar<\/span><div class=\"lf-gut-blog-post-cta-efference__lede\">\n<div class=\"wp-block-lexpress-highlighted-text-v2 lf-gut-blog-post-cta-efference__lede\">\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/lexpress-franchise.com\/es\/articulos\/como-montar-empresa-sin-ser-autonomo\/\">C\u00f3mo montar una empresa sin ser aut\u00f3nomo en 2026: alternativas, costes y requisitos legales<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div><\/div>\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-98c1c28c903b14a163a057fa1f479fd5\">Qu\u00e9 significa salir a Bolsa para una empresa: motivos para hacerlo<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Salir a Bolsa es el <strong>proceso por el que una empresa pone parte de su capital a disposici\u00f3n del p\u00fablico en un mercado regulado, a trav\u00e9s de una oferta p\u00fablica<\/strong>. En Espa\u00f1a, esto se traduce en la admisi\u00f3n a cotizaci\u00f3n en alguno de los mercados gestionados por <strong>BME (Bolsas y Mercados Espa\u00f1oles)<\/strong>: el <strong>Mercado Continuo<\/strong> para grandes compa\u00f1\u00edas, <strong>BME Growth<\/strong> para pymes en expansi\u00f3n, o <strong>BME Scaleup<\/strong> para empresas tecnol\u00f3gicas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Las <strong>razones estrat\u00e9gicas<\/strong> para cotizar son variadas. La m\u00e1s habitual es el acceso a capital para financiar la expansi\u00f3n de la red: abrir nuevos puntos de venta, entrar en otros mercados o financiar adquisiciones. Pero existen otras palancas igualmente relevantes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Liquidez para los accionistas actuales<\/strong>: socios fundadores e inversores de capital riesgo pueden vender parte de su participaci\u00f3n en el mercado secundario.<\/li>\n\n\n\n<li><strong>Valoraci\u00f3n objetiva<\/strong>: la cotizaci\u00f3n genera un precio de mercado diario, referencia clave en negociaciones, fusiones y adquisiciones.<\/li>\n\n\n\n<li><strong>Credibilidad y notoriedad<\/strong>: cotizar eleva el perfil de la empresa ante proveedores, entidades financieras y candidatos a franquiciados en el <a href=\"https:\/\/lexpress-franchise.com\/es\/articulos\/que-es-una-franquicia\/\">sistema de franquicia<\/a>.<\/li>\n\n\n\n<li><strong>Fidelizaci\u00f3n del talento directivo<\/strong>: las acciones permiten crear planes de opciones (<em>stock options<\/em>) y acciones restringidas para retener a los mejores perfiles.<\/li>\n\n\n\n<li><strong>Moneda de adquisici\u00f3n<\/strong>: las acciones propias cotizadas pueden usarse para financiar operaciones de crecimiento inorg\u00e1nico sin recurrir a deuda.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Qu\u00e9 norma regula en Espa\u00f1a la salida a Bolsa de una empresa<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">El marco jur\u00eddico que regula el acceso a los mercados de valores en Espa\u00f1a se basa en la <strong><a href=\"https:\/\/lexpress-franchise.com\/wp-content\/uploads\/2026\/08\/boe-a-2023-7053-consolidado.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Ley 6\/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversi\u00f3n<\/a><\/strong>, que refundi\u00f3 y moderniz\u00f3 la anterior normativa sectorial. Esta ley atribuye a la <strong>Comisi\u00f3n Nacional del Mercado de Valores (CNMV)<\/strong> la supervisi\u00f3n de todo el proceso: es la CNMV quien aprueba el <strong>folleto informativo<\/strong> que la empresa debe publicar antes de cualquier oferta p\u00fablica, y quien vela por la transparencia e integridad del mercado.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-70d5e78a56477ad83961ddd64cbbc8a5\">\u00bfC\u00f3mo es el proceso para salir a Bolsa de una empresa?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Una salida a Bolsa requiere entre <strong>4 y 6 meses de preparaci\u00f3n<\/strong> en condiciones normales, aunque puede extenderse en funci\u00f3n de la complejidad del proyecto. Intervienen <strong>m\u00faltiples actores<\/strong>: la empresa, bancos de inversi\u00f3n, despachos de abogados especializados, auditoras y la CNMV. El resultado puede adoptar dos formas distintas en funci\u00f3n de la estrategia de la compa\u00f1\u00eda.<\/p>\n\n\n<div class=\"lc-gut-blog-post-timeline\"><div class=\"lc-gut-blog-post-timeline__item\" style=\"--color: #e74c3c;\"><div class=\"lc-gut-blog-post-timeline__item-header\"><div class=\"lc-gut-blog-post-timeline__year\">4-6 meses<\/div><p class=\"lc-gut-blog-post-timeline__item-heading\">tiempo medio para salir a bolsa<\/p><\/div><div class=\"lc-gut-blog-post-timeline__item-text\"><p>Desde la decisi\u00f3n estrat\u00e9gica hasta la incorporaci\u00f3n al mercado y la primera sesi\u00f3n de negociaci\u00f3n.<\/p><\/div><\/div><\/div>\n\n\n<p class=\"wp-block-paragraph\">Una empresa que quiere cotizar debe <strong>preparar la operaci\u00f3n con antelaci\u00f3n<\/strong>. Entre los pasos m\u00e1s importantes destacan:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Definir un plan de negocio s\u00f3lido<\/strong>, con una propuesta atractiva para captar el inter\u00e9s de los inversores.<\/li>\n\n\n\n<li><strong>Adaptar el gobierno corporativo<\/strong>, garantizando transparencia y una gesti\u00f3n acorde con los est\u00e1ndares del mercado.<\/li>\n\n\n\n<li><strong>Contar con asesores externos<\/strong>, como bancos de inversi\u00f3n, abogados y auditores, que estructuren y coordinen la operaci\u00f3n.<\/li>\n\n\n\n<li><strong>Dise\u00f1ar la oferta de acciones<\/strong>, determinando el volumen de t\u00edtulos y el perfil de los inversores a los que se dirigir\u00e1.<\/li>\n\n\n\n<li><strong>Elegir el momento adecuado<\/strong> para debutar en Bolsa, analizando la situaci\u00f3n de los mercados.<\/li>\n\n\n\n<li><strong>Fijar el precio de salida<\/strong>, mediante un proceso en el que participan bancos, analistas e inversores interesados.<\/li>\n<\/ul>\n\n\n<div class=\"lf-gut-blog-post-cta-efference\" style=\"border-color: var(--tertiary);\"><div class=\"lf-gut-blog-post-cta-efference__icon\" style=\"color: var(--tertiary);\"><svg class=\"icon-thumb-up\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"35\" height=\"35\" viewBox=\"0 0 48 48\" fill=\"none\" style=\"color: var(--tertiary);\"><path fill=\"currentColor\" d=\"M21.4998 4.89989L20.8499 4.13985L20.8474 4.14202L21.4998 4.89989ZM26.5397 4.89989L27.1922 4.14197L27.1842 4.13526L26.5397 4.89989ZM29.6998 7.62011L30.3547 6.86441L30.3522 6.86223L29.6998 7.62011ZM40.4197 18.3401L41.1776 17.6877L41.1754 17.6851L40.4197 18.3401ZM43.1398 21.5L43.8998 20.8501L43.8977 20.8476L43.1398 21.5ZM43.1398 26.54L43.8977 27.1924L43.9044 27.1845L43.1398 26.54ZM40.4197 29.6999L41.1754 30.3549L41.1776 30.3523L40.4197 29.6999ZM29.6998 40.4199L30.3521 41.1778L30.3547 41.1756L29.6998 40.4199ZM26.5397 43.1399L27.1896 43.8999L27.1921 43.8978L26.5397 43.1399ZM21.4998 43.1399L20.8474 43.8978L20.8553 43.9045L21.4998 43.1399ZM18.3398 40.4199L17.6849 41.1756L17.6874 41.1778L18.3398 40.4199ZM7.57978 29.6999L8.34803 29.0597L8.34206 29.0527L7.57978 29.6999ZM4.87977 26.52L4.11427 27.1635L4.11748 27.1672L4.87977 26.52ZM4.87977 21.52L4.11747 20.8728L4.11428 20.8766L4.87977 21.52ZM7.57978 18.3401L8.3421 18.9873L8.348 18.9803L7.57978 18.3401ZM18.3398 7.62011L17.6874 6.86223L17.6849 6.86442L18.3398 7.62011ZM22.6797 31.88L23.3869 31.1729L23.3416 31.1276L23.291 31.0886L22.6797 31.88ZM30.6198 30.4801L29.6694 30.1688L29.6583 30.2028L29.6496 30.2375L30.6198 30.4801ZM32.8597 23.64L31.917 23.3064L31.9131 23.3175L31.9094 23.3288L32.8597 23.64ZM26.3998 20.0802L25.4113 19.9286L25.4089 19.9442L25.407 19.9598L26.3998 20.0802ZM26.8597 17.0802L25.8819 16.8706L25.8758 16.8995L25.8713 16.9286L26.8597 17.0802ZM25.6398 15.0201L25.2859 15.9554L25.3046 15.9625L25.3235 15.9688L25.6398 15.0201ZM23.5798 15.68L22.7523 15.1185L22.7504 15.1213L23.5798 15.68ZM22.1496 5.65993C23.1528 4.80216 24.8649 4.79607 25.8953 5.66452L27.1842 4.13526C25.4146 2.64371 22.6067 2.63762 20.8499 4.13986L22.1496 5.65993ZM25.8873 5.65777L29.0474 8.37799L30.3522 6.86223L27.1921 4.14201L25.8873 5.65777ZM29.0448 8.3758C29.4608 8.73632 30.0056 9.02413 30.5348 9.22184C31.064 9.41956 31.6657 9.56005 32.2197 9.56005V7.56005C31.9738 7.56005 31.6155 7.49056 31.2347 7.34832C30.8539 7.20605 30.5387 7.0239 30.3547 6.86442L29.0448 8.3758ZM32.2197 9.56005H35.6198V7.56005H32.2197V9.56005ZM35.6198 9.56005C37.1875 9.56005 38.4797 10.8522 38.4797 12.4199H40.4797C40.4797 9.74759 38.292 7.56005 35.6198 7.56005V9.56005ZM38.4797 12.4199V15.8201H40.4797V12.4199H38.4797ZM38.4797 15.8201C38.4797 16.3655 38.6209 16.9672 38.8174 17.4959C39.0139 18.0247 39.3014 18.5765 39.6641 18.995L41.1754 17.6851C41.0181 17.5036 40.8356 17.1854 40.6921 16.7993C40.5486 16.4129 40.4797 16.0547 40.4797 15.8201H38.4797ZM39.6619 18.9925L42.3819 22.1524L43.8977 20.8476L41.1776 17.6877L39.6619 18.9925ZM42.3797 22.1499C43.2375 23.153 43.2436 24.8652 42.3751 25.8956L43.9044 27.1845C45.396 25.4149 45.402 22.607 43.8998 20.8501L42.3797 22.1499ZM42.3819 25.8876L39.6619 29.0476L41.1776 30.3523L43.8977 27.1924L42.3819 25.8876ZM39.6641 29.045C39.3035 29.461 39.0157 30.0058 38.818 30.535C38.6203 31.0642 38.4797 31.6659 38.4797 32.22H40.4797C40.4797 31.974 40.5492 31.6157 40.6915 31.2349C40.8338 30.8541 41.0159 30.5389 41.1754 30.3549L39.6641 29.045ZM38.4797 32.22V35.6201H40.4797V32.22H38.4797ZM38.4797 35.6201C38.4797 37.1878 37.1875 38.48 35.6198 38.48V40.48C38.292 40.48 40.4797 38.2924 40.4797 35.6201H38.4797ZM35.6198 38.48H32.2197V40.48H35.6198V38.48ZM32.2197 38.48C31.6744 38.48 31.0726 38.6211 30.544 38.8176C30.0152 39.014 29.4633 39.3015 29.0448 39.6642L30.3547 41.1756C30.5362 41.0183 30.8544 40.8358 31.2405 40.6923C31.6269 40.5488 31.9851 40.48 32.2197 40.48V38.48ZM29.0474 39.662L25.8874 42.382L27.1921 43.8978L30.3521 41.1778L29.0474 39.662ZM25.8899 42.3798C24.8867 43.2376 23.1746 43.2437 22.1442 42.3753L20.8553 43.9045C22.6249 45.3961 25.4328 45.4021 27.1896 43.8999L25.8899 42.3798ZM22.1521 42.382L18.9922 39.662L17.6874 41.1778L20.8474 43.8978L22.1521 42.382ZM18.9947 39.6642C18.5787 39.3037 18.0339 39.0159 17.5047 38.8182C16.9755 38.6205 16.3738 38.48 15.8198 38.48V40.48C16.0657 40.48 16.4241 40.5495 16.8048 40.6917C17.1856 40.834 17.5008 41.0161 17.6849 41.1756L18.9947 39.6642ZM15.8198 38.48H12.3597V40.48H15.8198V38.48ZM12.3597 38.48C10.792 38.48 9.49976 37.1878 9.49976 35.6201H7.49976C7.49976 38.2924 9.6875 40.48 12.3597 40.48V38.48ZM9.49976 35.6201V32.1999H7.49976V35.6201H9.49976ZM9.49976 32.1999C9.49976 31.6539 9.35826 31.0572 9.16508 30.5353C8.9714 30.0121 8.69178 29.4723 8.348 29.0598L6.81156 30.3401C6.96777 30.5276 7.14815 30.8478 7.28945 31.2296C7.43127 31.6127 7.49976 31.966 7.49976 32.1999H9.49976ZM8.34206 29.0527L5.64205 25.8728L4.11748 27.1672L6.81749 30.3472L8.34206 29.0527ZM5.64525 25.8766C4.79794 24.8685 4.79794 23.1715 5.64525 22.1635L4.11428 20.8766C2.64159 22.6285 2.64159 25.4115 4.11428 27.1635L5.64525 25.8766ZM5.64205 22.1672L8.34206 18.9873L6.81749 17.6928L4.11748 20.8728L5.64205 22.1672ZM8.348 18.9803C8.69178 18.5677 8.9714 18.028 9.16508 17.5047C9.35826 16.9828 9.49976 16.3861 9.49976 15.8401H7.49976C7.49976 16.074 7.43127 16.4273 7.28945 16.8104C7.14815 17.1922 6.96777 17.5124 6.81156 17.6999L8.348 18.9803ZM9.49976 15.8401V12.4199H7.49976V15.8401H9.49976ZM9.49976 12.4199C9.49976 10.8522 10.792 9.56005 12.3597 9.56005V7.56005C9.6875 7.56005 7.49976 9.74759 7.49976 12.4199H9.49976ZM12.3597 9.56005H15.8198V7.56005H12.3597V9.56005ZM15.8198 9.56005C16.3651 9.56005 16.9669 9.4189 17.4956 9.22247C18.0244 9.02599 18.5762 8.7385 18.9947 8.3758L17.6849 6.86442C17.5034 7.02171 17.1852 7.2042 16.799 7.34769C16.4127 7.49123 16.0544 7.56005 15.8198 7.56005V9.56005ZM18.9922 8.37798L22.1522 5.65777L20.8474 4.14202L17.6874 6.86224L18.9922 8.37798ZM19.1685 30.4314L22.0685 32.6714L23.291 31.0886L20.3911 28.8486L19.1685 30.4314ZM21.9726 32.5871C22.3408 32.9552 22.8395 33.1544 23.2304 33.2648C23.645 33.3819 24.0864 33.44 24.4598 33.44V31.44C24.2731 31.44 24.0145 31.4081 23.7741 31.3401C23.6565 31.3069 23.5592 31.2695 23.4859 31.233C23.4093 31.1948 23.3839 31.1699 23.3869 31.1729L21.9726 32.5871ZM24.4598 33.44H27.9998V31.44H24.4598V33.44ZM27.9998 33.44C28.799 33.44 29.5865 33.1456 30.2139 32.6881C30.842 32.2301 31.3818 31.5549 31.5899 30.7226L29.6496 30.2375C29.5777 30.5252 29.3675 30.83 29.0356 31.072C28.7031 31.3145 28.3205 31.44 27.9998 31.44V33.44ZM31.5701 30.7913L33.8101 23.9512L31.9094 23.3288L29.6694 30.1688L31.5701 30.7913ZM33.8025 23.9735C34.1312 23.0445 34.0165 22.0828 33.4742 21.3419C32.9352 20.6053 32.0571 20.2 31.0798 20.2V22.2C31.5024 22.2 31.7444 22.3647 31.8603 22.5231C31.973 22.6772 32.0483 22.9354 31.917 23.3064L33.8025 23.9735ZM31.0798 20.2H27.3398V22.2H31.0798V20.2ZM27.3398 20.2C27.3373 20.2 27.3416 20.1997 27.3504 20.2035C27.359 20.2074 27.3692 20.2142 27.3782 20.2243C27.3876 20.235 27.3914 20.2444 27.3923 20.2472C27.3932 20.2503 27.3881 20.2367 27.3925 20.2005L25.407 19.9598C25.2548 21.2156 26.1799 22.2 27.3398 22.2V20.2ZM27.3882 20.2317L27.8482 17.2317L25.8713 16.9286L25.4113 19.9286L27.3882 20.2317ZM27.8375 17.2897C28.1304 15.9229 27.2511 14.5031 25.956 14.0714L25.3235 15.9688C25.7084 16.0971 25.949 16.5575 25.8819 16.8706L27.8375 17.2897ZM25.9937 14.0848C25.3555 13.8433 24.6881 13.9027 24.1473 14.0902C23.612 14.2757 23.0868 14.6256 22.7523 15.1185L24.4072 16.2415C24.4528 16.1744 24.5875 16.0543 24.8023 15.9799C25.0114 15.9074 25.1841 15.9169 25.2859 15.9554L25.9937 14.0848ZM22.7504 15.1213L18.9104 20.8212L20.5691 21.9387L24.4091 16.2387L22.7504 15.1213ZM15.9998 29.6399V20.48H13.9998V29.6399H15.9998ZM15.9998 20.48C15.9998 20.2144 16.0287 20.0485 16.0604 19.9495C16.0888 19.8605 16.1152 19.837 16.121 19.8316C16.1424 19.812 16.2914 19.7 16.8798 19.7V17.7C16.1482 17.7 15.3571 17.8179 14.7685 18.3583C14.1585 18.9183 13.9998 19.7102 13.9998 20.48H15.9998ZM16.8798 19.7H17.8198V17.7H16.8798V19.7ZM17.8198 19.7C18.3941 19.7 18.5477 19.8104 18.574 19.8344C18.5776 19.8376 18.6998 19.9386 18.6998 20.48H20.6998C20.6998 19.7014 20.532 18.9123 19.9205 18.3556C19.3318 17.8195 18.5455 17.7 17.8198 17.7V19.7ZM18.6998 20.48V29.6399H20.6998V20.48H18.6998ZM18.6998 29.6399C18.6998 30.1755 18.5805 30.2788 18.5752 30.2838C18.5511 30.3061 18.3996 30.4199 17.8198 30.4199V32.4199C18.56 32.4199 19.3484 32.2937 19.9343 31.751C20.539 31.191 20.6998 30.4043 20.6998 29.6399H18.6998ZM17.8198 30.4199H16.8798V32.4199H17.8198V30.4199ZM16.8798 30.4199C16.2914 30.4199 16.1424 30.3079 16.121 30.2883C16.1152 30.2829 16.0888 30.2593 16.0604 30.1704C16.0287 30.0714 15.9998 29.9055 15.9998 29.6399H13.9998C13.9998 30.4097 14.1585 31.2015 14.7685 31.7616C15.3571 32.302 16.1482 32.4199 16.8798 32.4199V30.4199Z\"\/><\/svg><\/div><h3 class=\"lf-gut-blog-post-cta-efference__title lf-transform-none\">Modalidades principales de una salida a Bolsa<\/h3><div class=\"lf-gut-blog-post-cta-efference__lede\">\n<div class=\"wp-block-lexpress-highlighted-text-v2 lf-gut-blog-post-cta-efference__lede\">\n<ul class=\"wp-block-list\">\n<li>En una <strong>OPV<\/strong> <strong>(Oferta P\u00fablica de Venta)<\/strong>, los accionistas actuales venden parte de sus acciones al p\u00fablico: la empresa no recibe capital fresco, sino que son los socios quienes obtienen liquidez. Es el mecanismo habitual cuando los fundadores o fondos de capital riesgo desean desinvertir parcialmente.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>En una <strong>OPS<\/strong> <strong>(Oferta P\u00fablica de Suscripci\u00f3n)<\/strong>, la empresa emite acciones nuevas y el dinero captado entra directamente en la caja de la sociedad, reforzando el patrimonio y financiando el plan de crecimiento.<\/li>\n<\/ul>\n<\/div>\n<\/div><\/div>\n\n\n<h3 class=\"wp-block-heading\">Salidas a Bolsa m\u00e1s f\u00e1ciles gracias a la normativa europea<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">El <strong>EU Listing Act<\/strong> introduce dos formatos simplificados de folleto informativo, aplicables desde marzo de 2026, que reducen el coste y el tiempo de aprobaci\u00f3n por parte de la CNMV:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Follow-on Prospectus<\/strong>: para empresas ya admitidas a cotizaci\u00f3n durante al menos 18 meses que realizan una nueva emisi\u00f3n. El contenido requerido es sensiblemente m\u00e1s reducido que el del folleto completo.<\/li>\n\n\n\n<li><strong>Growth Issuance Prospectus<\/strong>: especialmente dise\u00f1ado para pymes y empresas de mercados de crecimiento como BME Growth. Permite acceder al mercado con una documentaci\u00f3n m\u00e1s proporcionada al tama\u00f1o y perfil de riesgo de la empresa.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Para las empresas que opten por el Mercado Continuo, <strong>BME Easy Access<\/strong> permite la admisi\u00f3n con tan solo un <strong>10 % de capital en libre circulaci\u00f3n<\/strong> (frente al 25 % exigido anteriormente), siempre que la compa\u00f1\u00eda supere una valoraci\u00f3n de <strong>500 millones de euros<\/strong>. La nueva normativa de la UE tambi\u00e9n permite a las empresas admitirse a cotizaci\u00f3n <strong>sin empezar a negociar de inmediato<\/strong>: disponen de hasta <strong>6 meses<\/strong> para elegir el momento m\u00e1s favorable seg\u00fan las condiciones del mercado.<\/p>\n\n\n<div class=\"lc-gut-blog-post-stats\"><div class=\"lc-gut-blog-post-stats__item\"><div class=\"lc-gut-blog-post-stats__content\"><div class=\"lc-gut-blog-post-stats__number-wrapper\"><span class=\"lc-gut-blog-post-stats__number\" style=\"color: var(--primary);\">10 %<\/span><\/div><div class=\"lc-gut-blog-post-stats__text-wrapper\"><p class=\"lc-gut-blog-post-stats__text\">Capital m\u00ednimo en libre circulaci\u00f3n requerido con BME Easy Access para empresas con valoraci\u00f3n superior a 500 millones de euros, frente al 25 % que se exig\u00eda con anterioridad.<\/p><\/div><\/div><div class=\"lc-gut-blog-post-stats__image-wrapper\"><img decoding=\"async\" class=\"lc-gut-blog-post-stats__image\" src=\"\/wp-content\/uploads\/2025\/08\/2cc7581fe8eaafe8c0787403cad27a5cede7f9a6.png\" alt=\"Stats illustration\" \/><\/div><\/div><\/div>\n\n\n<p class=\"wp-block-paragraph\">Seg\u00fan informaciones de la prensa econ\u00f3mica especializada (Cinco D\u00edas, agosto 2026), los despachos de abogados e intermediarios financieros anticipan una <strong>aceleraci\u00f3n de las salidas a Bolsa<\/strong> de peque\u00f1as y medianas empresas en Espa\u00f1a, impulsada precisamente por estas facilidades normativas.<\/p>\n\n\n<div class=\"lf-gut-blog-post-cta-efference\" style=\"border-color: #ffe066;\"><div class=\"lf-gut-blog-post-cta-efference__icon\" style=\"color: #ffe066;\"><svg class=\"icon-thumb-up\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"35\" height=\"35\" viewBox=\"0 0 48 48\" fill=\"none\" style=\"color: #ffe066;\"><path fill=\"currentColor\" d=\"M21.4998 4.89989L20.8499 4.13985L20.8474 4.14202L21.4998 4.89989ZM26.5397 4.89989L27.1922 4.14197L27.1842 4.13526L26.5397 4.89989ZM29.6998 7.62011L30.3547 6.86441L30.3522 6.86223L29.6998 7.62011ZM40.4197 18.3401L41.1776 17.6877L41.1754 17.6851L40.4197 18.3401ZM43.1398 21.5L43.8998 20.8501L43.8977 20.8476L43.1398 21.5ZM43.1398 26.54L43.8977 27.1924L43.9044 27.1845L43.1398 26.54ZM40.4197 29.6999L41.1754 30.3549L41.1776 30.3523L40.4197 29.6999ZM29.6998 40.4199L30.3521 41.1778L30.3547 41.1756L29.6998 40.4199ZM26.5397 43.1399L27.1896 43.8999L27.1921 43.8978L26.5397 43.1399ZM21.4998 43.1399L20.8474 43.8978L20.8553 43.9045L21.4998 43.1399ZM18.3398 40.4199L17.6849 41.1756L17.6874 41.1778L18.3398 40.4199ZM7.57978 29.6999L8.34803 29.0597L8.34206 29.0527L7.57978 29.6999ZM4.87977 26.52L4.11427 27.1635L4.11748 27.1672L4.87977 26.52ZM4.87977 21.52L4.11747 20.8728L4.11428 20.8766L4.87977 21.52ZM7.57978 18.3401L8.3421 18.9873L8.348 18.9803L7.57978 18.3401ZM18.3398 7.62011L17.6874 6.86223L17.6849 6.86442L18.3398 7.62011ZM22.6797 31.88L23.3869 31.1729L23.3416 31.1276L23.291 31.0886L22.6797 31.88ZM30.6198 30.4801L29.6694 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12.4199H40.4797C40.4797 9.74759 38.292 7.56005 35.6198 7.56005V9.56005ZM38.4797 12.4199V15.8201H40.4797V12.4199H38.4797ZM38.4797 15.8201C38.4797 16.3655 38.6209 16.9672 38.8174 17.4959C39.0139 18.0247 39.3014 18.5765 39.6641 18.995L41.1754 17.6851C41.0181 17.5036 40.8356 17.1854 40.6921 16.7993C40.5486 16.4129 40.4797 16.0547 40.4797 15.8201H38.4797ZM39.6619 18.9925L42.3819 22.1524L43.8977 20.8476L41.1776 17.6877L39.6619 18.9925ZM42.3797 22.1499C43.2375 23.153 43.2436 24.8652 42.3751 25.8956L43.9044 27.1845C45.396 25.4149 45.402 22.607 43.8998 20.8501L42.3797 22.1499ZM42.3819 25.8876L39.6619 29.0476L41.1776 30.3523L43.8977 27.1924L42.3819 25.8876ZM39.6641 29.045C39.3035 29.461 39.0157 30.0058 38.818 30.535C38.6203 31.0642 38.4797 31.6659 38.4797 32.22H40.4797C40.4797 31.974 40.5492 31.6157 40.6915 31.2349C40.8338 30.8541 41.0159 30.5389 41.1754 30.3549L39.6641 29.045ZM38.4797 32.22V35.6201H40.4797V32.22H38.4797ZM38.4797 35.6201C38.4797 37.1878 37.1875 38.48 35.6198 38.48V40.48C38.292 40.48 40.4797 38.2924 40.4797 35.6201H38.4797ZM35.6198 38.48H32.2197V40.48H35.6198V38.48ZM32.2197 38.48C31.6744 38.48 31.0726 38.6211 30.544 38.8176C30.0152 39.014 29.4633 39.3015 29.0448 39.6642L30.3547 41.1756C30.5362 41.0183 30.8544 40.8358 31.2405 40.6923C31.6269 40.5488 31.9851 40.48 32.2197 40.48V38.48ZM29.0474 39.662L25.8874 42.382L27.1921 43.8978L30.3521 41.1778L29.0474 39.662ZM25.8899 42.3798C24.8867 43.2376 23.1746 43.2437 22.1442 42.3753L20.8553 43.9045C22.6249 45.3961 25.4328 45.4021 27.1896 43.8999L25.8899 42.3798ZM22.1521 42.382L18.9922 39.662L17.6874 41.1778L20.8474 43.8978L22.1521 42.382ZM18.9947 39.6642C18.5787 39.3037 18.0339 39.0159 17.5047 38.8182C16.9755 38.6205 16.3738 38.48 15.8198 38.48V40.48C16.0657 40.48 16.4241 40.5495 16.8048 40.6917C17.1856 40.834 17.5008 41.0161 17.6849 41.1756L18.9947 39.6642ZM15.8198 38.48H12.3597V40.48H15.8198V38.48ZM12.3597 38.48C10.792 38.48 9.49976 37.1878 9.49976 35.6201H7.49976C7.49976 38.2924 9.6875 40.48 12.3597 40.48V38.48ZM9.49976 35.6201V32.1999H7.49976V35.6201H9.49976ZM9.49976 32.1999C9.49976 31.6539 9.35826 31.0572 9.16508 30.5353C8.9714 30.0121 8.69178 29.4723 8.348 29.0598L6.81156 30.3401C6.96777 30.5276 7.14815 30.8478 7.28945 31.2296C7.43127 31.6127 7.49976 31.966 7.49976 32.1999H9.49976ZM8.34206 29.0527L5.64205 25.8728L4.11748 27.1672L6.81749 30.3472L8.34206 29.0527ZM5.64525 25.8766C4.79794 24.8685 4.79794 23.1715 5.64525 22.1635L4.11428 20.8766C2.64159 22.6285 2.64159 25.4115 4.11428 27.1635L5.64525 25.8766ZM5.64205 22.1672L8.34206 18.9873L6.81749 17.6928L4.11748 20.8728L5.64205 22.1672ZM8.348 18.9803C8.69178 18.5677 8.9714 18.028 9.16508 17.5047C9.35826 16.9828 9.49976 16.3861 9.49976 15.8401H7.49976C7.49976 16.074 7.43127 16.4273 7.28945 16.8104C7.14815 17.1922 6.96777 17.5124 6.81156 17.6999L8.348 18.9803ZM9.49976 15.8401V12.4199H7.49976V15.8401H9.49976ZM9.49976 12.4199C9.49976 10.8522 10.792 9.56005 12.3597 9.56005V7.56005C9.6875 7.56005 7.49976 9.74759 7.49976 12.4199H9.49976ZM12.3597 9.56005H15.8198V7.56005H12.3597V9.56005ZM15.8198 9.56005C16.3651 9.56005 16.9669 9.4189 17.4956 9.22247C18.0244 9.02599 18.5762 8.7385 18.9947 8.3758L17.6849 6.86442C17.5034 7.02171 17.1852 7.2042 16.799 7.34769C16.4127 7.49123 16.0544 7.56005 15.8198 7.56005V9.56005ZM18.9922 8.37798L22.1522 5.65777L20.8474 4.14202L17.6874 6.86224L18.9922 8.37798ZM19.1685 30.4314L22.0685 32.6714L23.291 31.0886L20.3911 28.8486L19.1685 30.4314ZM21.9726 32.5871C22.3408 32.9552 22.8395 33.1544 23.2304 33.2648C23.645 33.3819 24.0864 33.44 24.4598 33.44V31.44C24.2731 31.44 24.0145 31.4081 23.7741 31.3401C23.6565 31.3069 23.5592 31.2695 23.4859 31.233C23.4093 31.1948 23.3839 31.1699 23.3869 31.1729L21.9726 32.5871ZM24.4598 33.44H27.9998V31.44H24.4598V33.44ZM27.9998 33.44C28.799 33.44 29.5865 33.1456 30.2139 32.6881C30.842 32.2301 31.3818 31.5549 31.5899 30.7226L29.6496 30.2375C29.5777 30.5252 29.3675 30.83 29.0356 31.072C28.7031 31.3145 28.3205 31.44 27.9998 31.44V33.44ZM31.5701 30.7913L33.8101 23.9512L31.9094 23.3288L29.6694 30.1688L31.5701 30.7913ZM33.8025 23.9735C34.1312 23.0445 34.0165 22.0828 33.4742 21.3419C32.9352 20.6053 32.0571 20.2 31.0798 20.2V22.2C31.5024 22.2 31.7444 22.3647 31.8603 22.5231C31.973 22.6772 32.0483 22.9354 31.917 23.3064L33.8025 23.9735ZM31.0798 20.2H27.3398V22.2H31.0798V20.2ZM27.3398 20.2C27.3373 20.2 27.3416 20.1997 27.3504 20.2035C27.359 20.2074 27.3692 20.2142 27.3782 20.2243C27.3876 20.235 27.3914 20.2444 27.3923 20.2472C27.3932 20.2503 27.3881 20.2367 27.3925 20.2005L25.407 19.9598C25.2548 21.2156 26.1799 22.2 27.3398 22.2V20.2ZM27.3882 20.2317L27.8482 17.2317L25.8713 16.9286L25.4113 19.9286L27.3882 20.2317ZM27.8375 17.2897C28.1304 15.9229 27.2511 14.5031 25.956 14.0714L25.3235 15.9688C25.7084 16.0971 25.949 16.5575 25.8819 16.8706L27.8375 17.2897ZM25.9937 14.0848C25.3555 13.8433 24.6881 13.9027 24.1473 14.0902C23.612 14.2757 23.0868 14.6256 22.7523 15.1185L24.4072 16.2415C24.4528 16.1744 24.5875 16.0543 24.8023 15.9799C25.0114 15.9074 25.1841 15.9169 25.2859 15.9554L25.9937 14.0848ZM22.7504 15.1213L18.9104 20.8212L20.5691 21.9387L24.4091 16.2387L22.7504 15.1213ZM15.9998 29.6399V20.48H13.9998V29.6399H15.9998ZM15.9998 20.48C15.9998 20.2144 16.0287 20.0485 16.0604 19.9495C16.0888 19.8605 16.1152 19.837 16.121 19.8316C16.1424 19.812 16.2914 19.7 16.8798 19.7V17.7C16.1482 17.7 15.3571 17.8179 14.7685 18.3583C14.1585 18.9183 13.9998 19.7102 13.9998 20.48H15.9998ZM16.8798 19.7H17.8198V17.7H16.8798V19.7ZM17.8198 19.7C18.3941 19.7 18.5477 19.8104 18.574 19.8344C18.5776 19.8376 18.6998 19.9386 18.6998 20.48H20.6998C20.6998 19.7014 20.532 18.9123 19.9205 18.3556C19.3318 17.8195 18.5455 17.7 17.8198 17.7V19.7ZM18.6998 20.48V29.6399H20.6998V20.48H18.6998ZM18.6998 29.6399C18.6998 30.1755 18.5805 30.2788 18.5752 30.2838C18.5511 30.3061 18.3996 30.4199 17.8198 30.4199V32.4199C18.56 32.4199 19.3484 32.2937 19.9343 31.751C20.539 31.191 20.6998 30.4043 20.6998 29.6399H18.6998ZM17.8198 30.4199H16.8798V32.4199H17.8198V30.4199ZM16.8798 30.4199C16.2914 30.4199 16.1424 30.3079 16.121 30.2883C16.1152 30.2829 16.0888 30.2593 16.0604 30.1704C16.0287 30.0714 15.9998 29.9055 15.9998 29.6399H13.9998C13.9998 30.4097 14.1585 31.2015 14.7685 31.7616C15.3571 32.302 16.1482 32.4199 16.8798 32.4199V30.4199Z\"\/><\/svg><\/div><h3 class=\"lf-gut-blog-post-cta-efference__title lf-transform-none\">La evoluci\u00f3n en Bolsa depender\u00e1 de la confianza de los inversores<\/h3><p class=\"lf-gut-blog-post-cta-efference__lede\">Tras debutar en Bolsa, la cotizaci\u00f3n de las acciones pasa a depender de la confianza que el mercado deposita en la evoluci\u00f3n y los resultados de la empresa. A partir de ese momento, la compa\u00f1\u00eda inicia una <strong>nueva etapa como sociedad cotizada<\/strong>, lo que implica asumir mayores exigencias en materia de transparencia, informaci\u00f3n financiera y cumplimiento normativo, adem\u00e1s de nuevas responsabilidades frente a sus accionistas e inversores.<\/p><\/div>\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-846724788315b06d5aa915979e67e042\">\u00bfQu\u00e9 empresas o expertos consultar para la salida a Bolsa de tu empresa?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">El \u00e9xito de una salida a Bolsa depende en gran medida del equipo de asesores que acompa\u00f1a a la empresa a lo largo del proceso. Los principales actores son los siguientes:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Entidad coordinadora global (banco de inversi\u00f3n)<\/strong>: dirige la operaci\u00f3n, fija el rango de valoraci\u00f3n, gestiona el libro de \u00f3rdenes y coloca las acciones entre inversores institucionales y minoristas. Es el eje central de la operaci\u00f3n.<\/li>\n\n\n\n<li><strong>Despacho de abogados especializado en mercados de capitales<\/strong>: redacta el folleto informativo, gestiona la relaci\u00f3n con la CNMV y garantiza el cumplimiento de la Ley 6\/2023 y de la normativa europea aplicable.<\/li>\n\n\n\n<li><strong>Auditora independiente<\/strong>: certifica las cuentas anuales. La CNMV exige estados financieros auditados antes de aprobar el folleto; habitualmente se trabaja con una firma del grupo de las Big 4.<\/li>\n\n\n\n<li><strong>Asesor Registrado<\/strong>: figura <strong>obligatoria<\/strong> para las empresas que quieren incorporarse a <strong>BME Growth<\/strong>. Eval\u00faa la idoneidad de la empresa para el mercado alternativo y la acompa\u00f1a durante todo el proceso de incorporaci\u00f3n y en su vida como empresa cotizada.<\/li>\n\n\n\n<li><strong>Proveedor de Liquidez<\/strong>: tambi\u00e9n obligatorio en BME Growth, mantiene la liquidez del valor en el mercado secundario, facilitando la compra y venta de acciones en todo momento.<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">La lista completa de Asesores Registrados autorizados por BME y las entidades supervisadas por la CNMV son accesibles en sus respectivos portales oficiales.<\/p>\n\n\n<div class=\"lf-gut-blog-post-cta-efference\" style=\"border-color: var(--tertiary);\"><div class=\"lf-gut-blog-post-cta-efference__icon\" style=\"color: var(--tertiary);\"><svg class=\"icon-thumb-up\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"35\" height=\"35\" viewBox=\"0 0 48 48\" fill=\"none\" style=\"color: var(--tertiary);\"><path fill=\"currentColor\" d=\"M21.4998 4.89989L20.8499 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30.4199V32.4199C18.56 32.4199 19.3484 32.2937 19.9343 31.751C20.539 31.191 20.6998 30.4043 20.6998 29.6399H18.6998ZM17.8198 30.4199H16.8798V32.4199H17.8198V30.4199ZM16.8798 30.4199C16.2914 30.4199 16.1424 30.3079 16.121 30.2883C16.1152 30.2829 16.0888 30.2593 16.0604 30.1704C16.0287 30.0714 15.9998 29.9055 15.9998 29.6399H13.9998C13.9998 30.4097 14.1585 31.2015 14.7685 31.7616C15.3571 32.302 16.1482 32.4199 16.8798 32.4199V30.4199Z\"\/><\/svg><\/div><h3 class=\"lf-gut-blog-post-cta-efference__title lf-transform-none\">Requisitos para cotizar en BME Growth<\/h3><div class=\"lf-gut-blog-post-cta-efference__lede\">\n<div class=\"wp-block-lexpress-highlighted-text-v2 lf-gut-blog-post-cta-efference__lede\">\n<p class=\"wp-block-paragraph\">BME Growth no impone un tama\u00f1o m\u00ednimo de empresa: la mayor\u00eda de las compa\u00f1\u00edas incorporadas tienen una capitalizaci\u00f3n inferior a <strong>200 millones de euros<\/strong>. Los requisitos clave son un plan de negocio s\u00f3lido, un historial financiero verificable y al menos <strong>20 accionistas minoritarios<\/strong> (cada uno con menos del 5 % del capital) que representen en conjunto un m\u00ednimo de <strong>2 millones de euros<\/strong> de capital en libre circulaci\u00f3n.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-34e25747074767d3e706bd072b750605\">Pros y Contras de salir a bolsa para una empresa o red de franquicias<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">La decisi\u00f3n de cotizar tiene implicaciones profundas en la estructura, la gesti\u00f3n y la estrategia de la empresa. Para las <strong>redes de franquicias<\/strong> en particular, la transparencia obligatoria como empresa cotizada puede transformar la comunicaci\u00f3n con la red y con los candidatos a franquiciados, tanto para bien como para mal.<\/p>\n\n\n<div class=\"lc-gut-blog-post-advantages\" style=\"--color: #7BD395;\"><img decoding=\"async\" class=\"lc-gut-blog-post-advantages__illustration\" src=\"\/wp-content\/uploads\/2025\/08\/50cd7558f896a7c0b1b2afd52e51bf4b8820fa65.png\" alt=\"Illustration\" \/><h3 class=\"lc-gut-blog-post-advantages__heading\">Ventajas de salir a Bolsa<\/h3><ul class=\"lc-gut-blog-post-advantages__content\"><li><strong>Acceso a capital para financiar la expansi\u00f3n de la red<\/strong>: nuevos territorios, adquisiciones o apertura de franquicias propias.<\/li><li><strong>Mayor credibilidad<\/strong> ante franquiciados, proveedores y entidades financieras gracias al estatus de empresa cotizada.<\/li><li><strong>Liquidez<\/strong> para socios fundadores e inversores de capital riesgo, que pueden vender participaciones en el mercado secundario.<\/li><li><strong>Valoraci\u00f3n objetiva diaria de la empresa<\/strong>, referencia clave en operaciones corporativas y alianzas estrat\u00e9gicas.<\/li><li><strong>Capacidad de usar acciones propias<\/strong> como moneda de adquisici\u00f3n en operaciones de crecimiento inorg\u00e1nico.<\/li><li><strong>Herramientas de captaci\u00f3n y fidelizaci\u00f3n<\/strong> <strong>de talento directivo<\/strong>: planes de opciones y acciones restringidas.<\/li><\/ul><\/div>\n\n<div class=\"lc-gut-blog-post-advantages\" style=\"--color: #FF8175;\"><img decoding=\"async\" class=\"lc-gut-blog-post-advantages__illustration\" src=\"\/wp-content\/uploads\/2025\/08\/3397a82f727336fac87316297f56be69c2fcafd7.png\" alt=\"Illustration\" \/><h3 class=\"lc-gut-blog-post-advantages__heading\">Inconvenientes de salir a Bolsa<\/h3><ul class=\"lc-gut-blog-post-advantages__content\"><li><strong>Elevados costes de preparaci\u00f3n<\/strong>: honorarios de bancos de inversi\u00f3n, despachos de abogados y auditoras pueden representar entre el 3 % y el 7 % del capital captado.<\/li><li><strong>Obligaciones continuas de transparencia<\/strong>: publicaci\u00f3n de cuentas semestrales, anuales e informaci\u00f3n relevante a la CNMV, con recursos internos dedicados.<\/li><li><strong>P\u00e9rdida de privacidad estrat\u00e9gica<\/strong>: competidores, franquiciados y medios acceden a datos financieros detallados de la empresa.<\/li><li><strong>Presi\u00f3n del mercado<\/strong> hacia resultados a corto plazo, que puede entrar en tensi\u00f3n con inversiones de largo recorrido.<\/li><li><strong>Riesgo de volatilidad<\/strong> del precio de la acci\u00f3n, independientemente de los resultados reales del negocio.<\/li><li><strong>Proceso exigente<\/strong> en tiempo directivo durante los 4 a 6 meses de preparaci\u00f3n, con dedicaci\u00f3n intensa de la alta direcci\u00f3n.<\/li><\/ul><\/div>\n\n<div 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20.2005L25.407 19.9598C25.2548 21.2156 26.1799 22.2 27.3398 22.2V20.2ZM27.3882 20.2317L27.8482 17.2317L25.8713 16.9286L25.4113 19.9286L27.3882 20.2317ZM27.8375 17.2897C28.1304 15.9229 27.2511 14.5031 25.956 14.0714L25.3235 15.9688C25.7084 16.0971 25.949 16.5575 25.8819 16.8706L27.8375 17.2897ZM25.9937 14.0848C25.3555 13.8433 24.6881 13.9027 24.1473 14.0902C23.612 14.2757 23.0868 14.6256 22.7523 15.1185L24.4072 16.2415C24.4528 16.1744 24.5875 16.0543 24.8023 15.9799C25.0114 15.9074 25.1841 15.9169 25.2859 15.9554L25.9937 14.0848ZM22.7504 15.1213L18.9104 20.8212L20.5691 21.9387L24.4091 16.2387L22.7504 15.1213ZM15.9998 29.6399V20.48H13.9998V29.6399H15.9998ZM15.9998 20.48C15.9998 20.2144 16.0287 20.0485 16.0604 19.9495C16.0888 19.8605 16.1152 19.837 16.121 19.8316C16.1424 19.812 16.2914 19.7 16.8798 19.7V17.7C16.1482 17.7 15.3571 17.8179 14.7685 18.3583C14.1585 18.9183 13.9998 19.7102 13.9998 20.48H15.9998ZM16.8798 19.7H17.8198V17.7H16.8798V19.7ZM17.8198 19.7C18.3941 19.7 18.5477 19.8104 18.574 19.8344C18.5776 19.8376 18.6998 19.9386 18.6998 20.48H20.6998C20.6998 19.7014 20.532 18.9123 19.9205 18.3556C19.3318 17.8195 18.5455 17.7 17.8198 17.7V19.7ZM18.6998 20.48V29.6399H20.6998V20.48H18.6998ZM18.6998 29.6399C18.6998 30.1755 18.5805 30.2788 18.5752 30.2838C18.5511 30.3061 18.3996 30.4199 17.8198 30.4199V32.4199C18.56 32.4199 19.3484 32.2937 19.9343 31.751C20.539 31.191 20.6998 30.4043 20.6998 29.6399H18.6998ZM17.8198 30.4199H16.8798V32.4199H17.8198V30.4199ZM16.8798 30.4199C16.2914 30.4199 16.1424 30.3079 16.121 30.2883C16.1152 30.2829 16.0888 30.2593 16.0604 30.1704C16.0287 30.0714 15.9998 29.9055 15.9998 29.6399H13.9998C13.9998 30.4097 14.1585 31.2015 14.7685 31.7616C15.3571 32.302 16.1482 32.4199 16.8798 32.4199V30.4199Z\"\/><\/svg><\/div><p class=\"lf-gut-blog-post-cta-efference__title lf-transform-none\">El consejo de la Redacci\u00f3n:<\/p><div class=\"lf-gut-blog-post-cta-efference__lede\">\n<div class=\"wp-block-lexpress-highlighted-text-v2 lf-gut-blog-post-cta-efference__lede\">\n<p class=\"wp-block-paragraph\">Antes de dar el salto, es imprescindible realizar una auditor\u00eda interna exhaustiva: gobierno corporativo, estructura accionarial, historial financiero auditado y capacidad real de cumplir con los requisitos de informaci\u00f3n continuada como empresa cotizada. Las compa\u00f1\u00edas que llegan a la CNMV bien preparadas reducen los tiempos de aprobaci\u00f3n del folleto y minimizan los riesgos de la operaci\u00f3n. Contar con un <strong>Asesor Registrado<\/strong> desde el inicio del proceso, incluso antes de tomar la decisi\u00f3n definitiva, es una inversi\u00f3n que habitualmente se amortiza.<\/p>\n<\/div>\n<\/div><\/div>\n\n        <div class=\"lf-gut-faq-block\">\n            \n<div class=\"wp-block-lexpress-faq lf-gut-faq-block lf-faq-block\"><h2 class=\"lf-gut-faq-block__title\" style=\"text-transform:none\">Preguntas frecuentes sobre la salida a Bolsa de una empresa<\/h2>\n<div class=\"wp-block-lexpress-faq-item lf-gut-faq-block__item lf-faq-block__item\"><button class=\"lf-gut-faq-block__question\" type=\"button\" aria-expanded=\"false\" data-target=\".lf-gut-answer-blt7x9q2a\">\u00bfCu\u00e1nto cuesta salir a Bolsa en Espa\u00f1a?<\/button><div class=\"lf-gut-faq-block__answer lf-gut-answer-blt7x9q2a\">\n<p class=\"wp-block-paragraph\">Los costes de una salida a Bolsa var\u00edan seg\u00fan el mercado elegido y el tama\u00f1o de la operaci\u00f3n. En t\u00e9rminos generales, los honorarios combinados del banco coordinador, el despacho de abogados y la auditora pueden representar entre el <strong>3 % y el 7 %<\/strong> del capital captado. A ello se suman las tasas de la CNMV y las comisiones de BME. Para una empresa que accede a <strong>BME Growth<\/strong>, los costes suelen ser inferiores a los del Mercado Continuo, dado que el proceso es m\u00e1s simplificado y el folleto informativo requerido es menos extenso.<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-lexpress-faq-item lf-gut-faq-block__item lf-faq-block__item\"><button class=\"lf-gut-faq-block__question\" type=\"button\" aria-expanded=\"false\" data-target=\".lf-gut-answer-mx3k5p1rn\">\u00bfPuede una red de franquicias cotizar en Bolsa en Espa\u00f1a?<\/button><div class=\"lf-gut-faq-block__answer lf-gut-answer-mx3k5p1rn\">\n<p class=\"wp-block-paragraph\">S\u00ed, una red de franquicias puede cotizar en Bolsa, siempre que sea una <strong>sociedad an\u00f3nima (SA)<\/strong>, cumpla los requisitos del mercado elegido y disponga de un historial financiero auditado. <strong>BME Growth<\/strong> es el mercado m\u00e1s accesible para redes medianas, sin requisito de tama\u00f1o m\u00ednimo. El modelo de franquicia es perfectamente compatible con la vida burs\u00e1til, y la cotizaci\u00f3n puede ser una palanca eficaz para financiar la expansi\u00f3n territorial de la red y ganar notoriedad ante nuevos candidatos a franquiciados.<\/p>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-lexpress-faq-item lf-gut-faq-block__item lf-faq-block__item\"><button class=\"lf-gut-faq-block__question\" type=\"button\" aria-expanded=\"false\" data-target=\".lf-gut-answer-wr8j2c4qz\">\u00bfQu\u00e9 diferencia hay entre el Mercado Continuo y BME Growth?<\/button><div class=\"lf-gut-faq-block__answer lf-gut-answer-wr8j2c4qz\">\n<p class=\"wp-block-paragraph\">El <strong>Mercado Continuo<\/strong> (tambi\u00e9n denominado SIBE) est\u00e1 destinado a grandes compa\u00f1\u00edas y exige requisitos m\u00e1s estrictos en t\u00e9rminos de capitalizaci\u00f3n, difusi\u00f3n de capital e informaci\u00f3n peri\u00f3dica. <strong>BME Growth<\/strong>, reconocido como <em>SME Growth Market<\/em> por la normativa europea, est\u00e1 dise\u00f1ado para pymes en expansi\u00f3n: sus exigencias son menores (sin capitalizaci\u00f3n m\u00ednima, folleto simplificado) y cuenta con figuras espec\u00edficas como el Asesor Registrado y el Proveedor de Liquidez que acompa\u00f1an a la empresa durante todo el proceso y en su vida cotizada.<\/p>\n<\/div><\/div>\n<\/div>\n        <\/div>\n        ","protected":false},"excerpt":{"rendered":"<p>Salir a Bolsa puede ser la palanca definitiva para escalar una empresa: abre el acceso a capital fresco, multiplica la visibilidad ante inversores y aporta credibilidad ante clientes y franquiciados. En Espa\u00f1a, mercados especializados como BME Growth y una normativa europea que simplifica el folleto informativo hacen que la cotizaci\u00f3n burs\u00e1til sea, en , una [&hellip;]<\/p>\n","protected":false},"author":429,"featured_media":1811014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"Salida a Bolsa en %%currentyear%%: gu\u00eda para empresas","_seopress_titles_desc":"\u00bfTu empresa quiere salir a Bolsa? OPV, BME Growth, proceso, costes y pros y contras. 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