(Finance) – Palingeuma company active in the geotechnics and geognostics sectors, for the construction of construction and infrastructure works and for the consolidation of foundation soils or support of excavation sources, closed the first day on Piazza Affari with an increase of 7.8%. The shares ended the first session on Euronext Growth Milan (EGM), the segment of the Italian Stock Exchange dedicated to small and medium-sized enterprises with high growth potential, at 5.39 euros per sharecompared to a placement price of 5.00 euros, reaching a capitalization of 28 million euros.
The countervalue of the first day at Piazza Affari was 766,059 euros, with 186 contracts concluded and 141,600 actions change hands.
“With satisfaction, Palingeo today reaches an important milestone: the IPO. This significant step allows us to accelerate our growth, implement consolidation strategies and broaden our impact in the reference market. positive response from the markets and the financial community is a fundamental signal for the path that awaits us”, commented Leonardo Spada, Paolo Franzoni and Gianbattista Lippi, co-founders of Palingeo.
Palingeo represents the second admission since the beginning of the year on the Italian Stock Exchange market dedicated to small and medium-sized enterprises. This is the fifth listing of 2024 on Euronext. Palingeo is currently being placed raised 7.4 million euros, excluding the potential exercise of the over-allotment option. In the event of full exercise of the over-allotment option, the total amount raised will be 8.1 million euros.