(Finance) – ErreDue, a company active in the design and production of highly innovative and customized solutions for the on-site production, blending and purification of technical gases (hydrogen produced by electrolysis of water, nitrogen, oxygen), has obtained admission to trading of ordinary shares on the Euronext Growth Milan marketa multilateral trading facility organized and managed by Borsa Italiana.
Admission to trading took place following the placement of no. 1,875,000 Shares, of which no. 1,250,000 newly issued shares resulting from a capital increase with the exclusion of option rights; no. 625,000 Shares offered for sale by ET Holding, inclusive of the no. 175,000 Shares covered by the Over Allotment Option to service the so-called greenshoe option.
The The offer price of the Shares has been set at Euro 12 per Share. Based on the Offer Price, the capitalization of the Company at the start of trading date will be equal to Euro 75 million, including the capital increase of Euro 15 million.
The Offer received strong interest by leading institutional investors, almost exclusively long only, both Italian and foreign.
There start date of trading of the Shares on Euronext Growth Milan and the payment date for the same are scheduled for 6 December 2022 and on that date the Company’s share capital will consist of listed shares (ISIN IT0005521247) and multiple voting shares not admitted to trading (ISIN IT0005523771) , the latter held by the majority shareholder Green H2 Holding.
The lock-up period will be 24 months from the start date of trading for both the Company and the current shareholders.
“Today is an important strategic milestone for our companya moment that will remain indelible in our minds and which represents the consolidation of over 20 years of experience in the sector – he declared Enrico D’Angelo, Founder & CEO of ErreDue -. A result that we have achieved together, with teamwork, thanks to the support of all our collaborators and partners. I can proudly state that with the listing on Euronext Growth Milan a new course has begun, which will allow, among other things, to increase our visibility in the eyes of institutions and large groups, as well as increase our business management capacity. Our goals for the future are to be among the leading companies in the ecological and energy transition, investing in particular in the research and development sector to continue to offer innovative solutions. On this special day, I would like to thank all the people who believed in the project from day one, to our employees and collaborators, people of experience and value, and to the advisors who accompanied us on this exciting listing journey. Lastly, special thanks go to the investors who believed in our project and who will accompany us in this adventure”.
In the listing process ErreDue is assisted by Intesa Sanpaolo (IMI Corporate & Investment Banking Division) as Global Coordinator and Joint Bookrunner and by CFO SIM as Euronext Growth Advisor and Joint Bookrunner; by Gitti and Partners as Legal Advisor of the issuer, by Chiomenti as Legal Advisor of the banks, by KPMG SpA as Independent Auditors, by Epyon as Advisor for the issue of the comfort letter on non-accounting data, by CDR Communication Srl as Advisor of the Company in matters of Investor & Media Relations and by B1 as Road show Coordinator. Intesa Sanpaolo (IMI Corporate & Investment Banking Division) will also act as a Specialist.