Devesa & Calvo advises CF Intercity on the first IPO of a football club in Spain

Intercity instructed Devesa & Calvo on the preparation of the Due Diligence report for the company’s IPO on BME Growth 

This report has thoroughly analysed the Legal, Tax and Labour situation of the entity in order to guarantee the quality of the information offered to investors.

With an initial total of 320 shareholders and a capitalisation value of €4.9 million, 4,631,868 shares were placed on the market with a reference price of €1.2 per share at the start of trading. Among the shareholders and in addition to several board members, there are also former Atlético de Madrid footballer Juanfran Torres and Javier Mira.

David Devesa, CEO of Devesa & Calvo, highlighted: “The professionalism and business approach with which the entity is being managed,” and said he was “honoured that our law firm has had the opportunity to participate, by issuing the due diligence report, in the first IPO in the history of Spanish football.” David further said that this matter: “Would not have been possible without the enormous work of Esaú Rojo Martínez and Ramón Villot Sánchez (pictured centre) on behalf of the entity.”

Intercity has become the first Spanish club to be listed on the stock exchange, the first step in the Alicante-based club’s roadmap to try to become financially profitable, something that also involves getting into professional football.

The Devesa & Calvo team has been led by CEO David Devesa (pictured top left) and has been formed by: Legal: María Roldan and Ana Karin Mengotti together with partner Sebastian Crespo (pictured bottom left) and Judith Torregrosa; Labour: partner José Luis Valverde (pictured top right) and Pablo Miralles; Tax: partner José María García Guirao (pictured bottom right) and Guiomar Díaz.

Desire Vidal