(Tiper Stock Exchange) – GreenOleoa Cremona-based company active in the field of green chemistry from renewable sources, has started the procedure for the listing on Euronext Growth Milan (EGM), the Borsa Italiana market dedicated to SMEs with high growth potential. Admission is expected on 7 July, with the debut at Piazza Affari on 11 July. Integrae SIM is the Euronext Growth Advisor and Specialist. The bookbuilding has been started with an indicative price range of 1.45-2.00 euro per share.
The company is one of the leading European producers of fine oleochemicals from renewable sources. It was established in 2012, in the context of the purchase by the Buzzella family of the entire capital, through the contribution of a branch of the company historically active since 1925 in the oleochemical production and previously owned by Croda Cremona. The company uses raw material of the territory, such as the by-products of the food industry processes, which are subjected to chemical processes to obtain multiple products oleochemicals.
Green Oleo operates in the establishment of Cremona, in an area of 64,000 square meters (of which about 20,000 square meters covered) where 75 resources are employed, with an annual production capacity of 65,000 tons of which 50,000 of fatty acids and glycerines and 15,000 of esters. THE clients they are industrial companies operating in multiple sectors such as detergents, elastomers, candles, paints, rubber and tyres, personal care and cosmetics, which through further specific processes for the target sector create the final products for the consumer.
Green Oleo has made a sales as at 31 December 2022 equal to 80.8 million euro (41.4% generated in Italy and 58.6% abroad)
The board of directorswhich will remain in office until the approval of the financial statements for the year ended 31 December 2025, is made up of 3 members: Beatrice Buzzella (chairman), Francesco Buzzella (managing director), Angelo Facchinetti (independent director).
Before admission the capital is controlled by: BB Srl (company attributable to Beatrice Buzzella) for 40%; FB Srl (company attributable to the managing director Francesco Buzzella) for 40%; PIEMA Srl (company owned by Beatrice Buzzella, Francesco Buzzella, Carlo Alberto Tagliaferri, Ludovica Tagliaferri, Edoardo Tagliaferri, Federico Buzzella, Lucrezia Buzzella) for 20%.
They will be present multiple voting shares (3 votes for each share), not subject to admission to trading, owned by BB Srl and FB Srl convertible into ordinary shares in the ratio of 1 ordinary share for every 1 multiple voting share.
“Our company places a strong attention and commitment to ESG issues, in the development of the circular economy and green chemistry – commented the CEO Francesco Buzzella – Results that have been recognized and made concrete by the attribution of 10 certifications in the field of sustainability and quality. The listing will allow us to consolidate our presence in the markets currently served, but also to expand the product portfolio and production capacity through acquisitions“.
“Green Leo’s choice to list on EGM was dictated by desire and by willingness to grow and try to make the company more and more important – declared the president Beatrice Buzzella – Ours is an operation with an industrial value but which also wants to launch a cultural challenge: to overcome the meaning of by-product as a by-product and begin to look at it as a real raw material. A company that enters the Stock Exchange does so to expand and develop. But Green Leo has one more ambition: to demonstrate that there is a truly sustainable way to do business and generate value”.