(Telestock) – Adriatic Electricity Distribution (DEA), an operator active in the distribution of electricity and management of public lighting in Central and Northern Italy, closed its first day at Piazza Affari with a rise of 14.38%. The shares ended the first session on Euronext Growth Milan (EGM), the segment of Borsa Italiana dedicated to small and medium-sized enterprises with high growth potential, at 9.15 euros per sharecompared to a placement price of 8 euros, reaching a capitalization (of listed shares) of 27.14 million euros.
The counter value on the first day at Piazza Affari was around 197 thousand euros, with 67 contracts concluded and 21,600 shares changed hands. The price fluctuated between a low of 8.70 euros and a high of 9.40.
DEA represents the ninth admission on Euronext Growth Milan and the twenty-seventh admission of 2024 on Euronext. Distribuzione Elettrica Adriatica raised 7.9 million euros during the placement phase.
The IPO objectives I am: player acquisition and integration throughout the national territory for the creation of a strategic infrastructure hub in the distribution of electricity. DEA already holds the option right to purchase approximately 24 thousand PoDs from the ENEL Group in the Municipality of Sanremo; the expansion in services of public lighting and innovative technologies for data analysis and management for the energy transition. Thanks to the IPO, DEA aims to become part of the elite of the top 10 national infrastructure operators that will be admitted to tenders for the concession of electricity distribution in 2030.