(Finance) – Borsa Italiana has arranged the admission to the listing on the Euronext Growth Milan market of Next Geosolutionsa company active internationally in the field of marine geosciences and services offshore construction support, mainly in the energy sector and in the field of renewable energy.
“Today we reach a very important milestone for our company which marks a new course: the success of this operation confirms the validity of our strategy and we are ready to face this new growth opportunity with determination”, declared Attilio IevoliPresident of NextGeo and CEO of Marnavi Group, adding “the listing on the stock exchange allows us to raise the capital necessary to consolidate our position among the market leaders and to finance innovative projects that will allow us to be increasingly competitive on a global level” .
Giovanni Ranieri, CEO of NextGeo, commented with enthusiasm on the positive outcome of the listing operation on the stock exchange. “In recent years – he underlined – we have been able to make the most of all the opportunities offered to us by a highly dynamic market, making us protagonists of continuous growth which has led us to assume an important position in our reference sector. The capital collected will be used to grow further and to develop cutting-edge technological solutions, useful for responding to the needs of a constantly evolving sector such as that of renewables, as well as to increase our fleet of ships and think about a possible expansion in the near future geographic scope of the business also through M&A operations”.
The placement reserved for primary institutional investors and qualified Italian and foreign investors, it closed at a value of 57.5 million euros, of which 50 million in capital increase and 7.5 million deriving from the exercise of the overallotment option on sale granted by the shareholders Dynamic Europe, VR Consulting, FG Consulting, PM Consulting. They were 9.2 million shares placedof which 8 million new issue resulting from the capital increase aimed at admission to the EGM market and 1,200,000 resulting from the exercise of the overallotment option. The corresponding was then fixed in 6.25 euros per share.
The Issuer’s share capital is made up of 48,000,000 shares of which 46,500,000 ordinary shares admitted to trading and 1,500,000 multiple voting sharesthese last held by the shareholder Marnavi. The capitalization of the Company expected on the first day of listing is equal to 290,625,000based on the ordinary shares admitted to trading (300,000,000 including multiple voting shares not admitted to trading), with a float of 13.42% in case of failure to exercise the greenshoe option granted by the Shareholders, which rises to 16% in case of full exercise of the greenshoe option.
The start of negotiations is scheduled for Wednesday 22 May 2024. The ordinary shares have been assigned the ISIN code IT0005594418 with ticker NXT.
NextGeo was in the listing process assisted by Intesa Sanpaolo as Global Coordinator, Specialist and Joint Bookrunner, Alantra Capital Markets as Euronext Growth Advisor and Joint Bookrunner, by Ceresio Investors as Lead Manager, by IPOCoach as Financial Advisor, by PricewaterhouseCoopers, as Auditor, Financial DD and Management Control System.