(Finance) – Erfo Pharmaceutical Laboratory debuted today on Euronext Growth Milan. The company, an innovative SME operating in the nutraceutical sector, specializes in the formulation and production of food supplements, developed in collaboration with the Campus Bio-Medico University of Rome and the University of Messina.
It deals with the ninth admission since the beginning of the year on the market dedicated to small and medium-sized enterprises and leads to 179 the number of companies currently listed on Euronext Growth Milan.
During the placement phase, Erfo Pharmaceutical Laboratory collected 3 million euros, which reached 3.45 million with the full exercise of the over-allotment. The free float at the time of admission is 22.22% and the market capitalization at the IPO is € 13.5 million. The stock is now trading up 3% on the IPO price at 1.55 euros.
“The listing of ERFO represents a fundamental step in the path of growth and internationalization with the proceeds of the IPO that will allow us to accelerate the achievement of our strategic objectives, aimed at consolidating our business model, characterized by a high degree of innovation and scalability, “he commented Alex CutèCEO and Founder of Erfo Pharmaceutical Laboratory.