Juan Flames, CEO of BME, argued at the Annual Meeting of the Ibero-American Federation of Exchanges that Spain is Ibero-America’s gateway to Europe. At ArmanexT, as Listing Sponsor, we see this every day with Latin American companies taking the step into European capital markets.
More and more Latin American companies are looking to list in Europe, and Spain has established itself as their natural point of access. This is what Juan Flames, CEO of BME, argued last week during the General Assembly and Annual Meeting of the Ibero-American Federation of Exchanges (FIAB), held in Costa Rica and hosted by Grupo Financiero Bolsa Nacional de Valores.
In a panel with Rodrigo Bolaños, Juan Pablo Córdoba and Jorge Alegría, Flames set out the opportunities for the region and the role that Spain and BME, as part of SIX Group, can play as a strategic partner to finance companies and generate wealth. The meetings concluded with the San José Declaration, which sets out progress on market integration, joint capacity building and mutual recognition.
At ArmanexT we congratulate Juan Flames on these remarks and fully endorse them. They are part of our daily work.
Why listing in Spain is a strategic option for Latin American companies
For a company from the region, listing in Europe does not mean leaving its local market, but complementing it. The Spanish market offers several advantages:
Market infrastructure ready for sizeable companies, with segments tailored to each stage of growth, such as [BME Growth] and [BME Scaleup].
Liquidity providers that support trading in the shares.
Access to European institutional capital, a diversified investor base beyond the reach of many local markets.
A solid regulatory framework that strengthens transparency and corporate governance in the eyes of international investors.
Language and cultural proximity, which simplify documentation and investor relations.
ArmanexT, a Listing Sponsor with experience in transactions between Latin America and Europe
Taking a Latin American company to a European market requires coordinating regulators on both continents, adapting documentation, preparing the equity story and supporting the company after its admission. It is work that cannot be improvised.
Founded in Madrid in 2008, ArmanexT acts as Listing Sponsor on BME Growth, BME Scaleup, Euronext Access and Euronext Growth (Paris and Lisbon) and Securitize, and as MTF Advisor on Portfolio Stock Exchange. We were the first Spanish Listing Sponsor authorised by Euronext, in 2018, and have focused much of our activity on international transactions and on bridging Latin America and Europe.
With our headquarters in Madrid and a local presence in Brazil, Mexico and Peru, we are able to work with companies from their home country.
Recent transactions and projects with Latin American companies
Andino Inversiones Global (Peru) debuted on BME Growth on 20 May 2026, with ArmanexT as Listing Sponsor, in a dual listing from Euronext Access+. Its market capitalisation on debut was €64.58 million.
Prática (Brazil) is working with us on its path to BME Growth, in a project that aims to make it the first Latin American company on this market outside Latibex.
Lidd AI (Mexico) is progressing with ArmanexT in its process towards BME Scaleup.
In November 2025 we sponsored the 27th Latibex Forum at the Palacio de la Bolsa in Madrid. We have also promoted the event “The European experience, an opportunity for the Dominican Republic”, together with Andersen and BBVA.
Dual listing: listing in Europe without leaving the local market
For companies already listed in their home country, [dual listing] allows the same shares to also be traded on a European market, without creating a new company or issuing additional instruments. It is one of the routes we have worked on to facilitate Latin American companies’ access to Europe.
We support companies ranging in size from €5 million to €3.6 billion. There is no single profile of company that lists in Europe, and each transaction requires a tailored design.