SPANISH SMALL & MID CAPS

Tubacex's record orders

Tubacex’s Order Book Reaches Record Levels

Tubacex has clocked up an order book worth 700 million euros in high tech tubular solutions for the gas and oil extraction, petrochemical and energy generation sectors. This figure is a record for the company.  A contract in Iran represents about two-thirds of the existing premium product backlog or 560 million euros.



Gestamp's IPO

Gestamp to list 27% of capital on Spanish bourse on April 7

Spanish automotives parts’ manufacturer Gestamp will make its stock market listing on April 7. The preliminary price range is 5,60-6,70 euros, which values the company at 3.540 billion euros at the middle range. The operation will be positive for the Spanish bourse, where there are not a lot of industrial companies.

 



Spanish construction company OHL

OHL’s annus horribilis is over

Fernando Rodríguez At the end of this month, OHL will present its Strategic Plan 2017-2030 after terminating 2016 with losses of 432,3 million euros, three risk rating downgrades from Moody’s, its exit from the Ibex-35 index and its share price taking a nosedive.





Techco small cap Indra

Two IT Small Markets Caps Sopra And Indra Face To Face

Sopra Steria and Indra Sistemas are small market caps (respectively €2.2bn and €1.7bn) compared to their peers Atos and Capgemini with market caps of €10.0bn and more. Both stocks trade at reasonable 2017 P/Es (respectively 13.4x and 13.6x) and analysts see significant upsides for both stocks. Indra is clearly more of a high risk- high return proposition while Sopra may have to cope with Brexit-induced uncertainties