(Tiper Stock Exchange) – GreenOleo – one of the main European producers of fine oleochemicals from renewable sources – received the OK from Borsa Italiana for the admission to trading of its ordinary shares on the Euronext Growth Milan market, a multilateral trading system organized and managed by Borsa Italiana.
There start date of trading is scheduled for Tuesday 11 July 2023.
Through the IPO transaction, the total value of the resources raised is equal to approximately Euro 5.50 million, of which approximately Euro 5.00 million deriving from the capital increase and approximately Euro 0.50 million deriving from the exercise of the option of over-allotment for sale granted by Piema Srl (company attributable to Beatrice Buzzella and Francesco Buzzella) to Integrae SIM SpA, as Global Coordinator.
The placement, aimed primarily at leading Italian and foreign institutional investors, at a price of Euro 1.15 per ordinary share, involved no. 4,783,500 ordinary shares, of which no. 4,348,500 shares in capital increase and n. 435,000 shares placed as part of the exercise of the over-allotment option for sale granted by the shareholder PIEMA Srl The free float of the Company after listing will be equal to 16.97% of the share capital (18.67% in the event of full exercise of the greenshoe option).
As a result of the capital increase, at the start date of trading, the Company’s share capital is equal to Euro 808,712.50 and is made up of no. 32,348,500 shares, with no indication of par value, of which no. 25,628,500 ordinary shares and no. 6,720,000 multiple voting shares (which give the right to 3 votes for each share), the latter not subject to admission to trading and owned by BB Srl (a company attributable to Beatrice Buzzella, Chairman of the Board of Directors of GREEN OLEO) and FB Srl (company attributable to Francesco Buzzella, Chief Executive Officer of GREEN OLEO), convertible into Ordinary Shares in the ratio of 1 Ordinary Share for every 1 Multi-Voting Share according to the conversion mechanisms provided for in the Issuer’s Articles of Association, available on the Company’s website www.greenoleo.com, section Governance/Documents and Procedures.
“Admission to Borsa Italiana represents both the beginning of a new development path and the recognition of the goals achieved in the national and international reference market, the potential for business growth and the quality of management – they declare Beatrice Buzzella and Francesco Buzzella, President, CEO and co-founders of Green Oleo -. The quotation is a source of pride for all the people who are part of our Company and represents a new chapter in the history and corporate culture of Green Oleo”.
(Photo: © Federico Rostagno | 123RF)