(Tiper Stock Exchange) – master groups, a company active in the TLC sector for the development of the sales network and distribution of technological services, aims to be listed on the Milan Stock Exchange next year. In particular, he mandated AC Finance to plan an IPO on Euronext Growth Milan by April 2024 (EGM), the segment of Borsa Italiana dedicated to SMEs with high growth potential. CEO Savino Novelli explained it to Mergermarket.
In 2022 the company, based in Foggia, generated revenues for 22 million euros and a EBITDA amounting to 3.5 million euros. This year it should close the year with revenues of 25 million euros and an EBITDA of 5 million euros.
The IPO, Novelli said, will serve to raise capital to open new stores, develop new services and enter new markets. Furthermore, the company is evaluating some targets for M&A deals.
Master Group, which has Novelli Group as its sole shareholder, is born in 2015 as a company whose object is the distribution and assumption of mandates in the sale and dissemination of products and services mainly in the utilities sector. According to the website, in a few years it has become master dealer of the main Italian brands in the use of telecommunications and energy servicessuch as Tiscali, SKY, ENI Gas and Light and Fastweb.
(Photo: © Simona Flamigni | 123RF)