(Finance) – Negotiations begin today Cogefeed on the professional segment of the Euronext Growth Milan market (EGM Pro). The company, active for over 10 years in the sustainability and green economy sector, owner of a hydroelectric power plant through its subsidiary FG Esco, represents the eighteenth admission onto the market dedicated to SMEs since the beginning of the year.
Cogefeed raised approximately 0.3 million euros in the placement phase, having sold 544,000 newly issued ordinary shares at a price of 0.60 euros per share. The company has reserved the right to evaluate the opportunity to raise further capital for a possible move to Euronext Growth Milan.
There capitalization at the start of trading is approximately equal to 3.1 million euroswith a free float of 10.58%.
The President and CEO of Cogefeeder, Daniele Filizolait was said “very satisfied” of the choice to go public and underlined “thanks to this opportunity”, it will be possible “highlight our know-howespecially in the design, development and construction of small and medium-sized plants from renewable sources, which will give us the possibility ofto be able to grow and accelerate our production process“.
Speaking about the listing, the manager acknowledged that “there was a need for a quite forced and demanding route“which he gave to society”an important structure and the possibility of being equipped for the challenges that await us.”
Speaking about the uniqueness of Cogefeed, Filizola said “we want to insert ethics into the economic relationship” and this means “look at added value” of the plants and, therefore, the “possibility of using them “both for agriculture and for energy-intensive purposes”, and of “not producing energy exclusively for one’s own purposes, but inserting the plant into a much broader production process”.
About the growth plans e development, the CEO stated that “they are very interesting” and that “the objective of the industrial plan is quite ambitious” in the next 18 months and aims to “greatly increase the ability to create and… pipeline development”.
In conclusion, Filizola stated that the resources collected with the quotation they will be used “exclusively in investments” over the next 2-3 years.