(Tiper Stock Exchange) – RESa Molise-based company active in the circular economy and environmental sustainability sector, was Borsa Italiana admitted to trading on Euronext Growth Milan (EGM), the segment of Piazza Affari dedicated to small and medium-sized enterprises with high growth potential. The start of negotiations is set for Thursday May 4th 2023.
The admission took place following the placement aimed at qualified Italian and foreign institutional investors of 2,699,230 ordinary shares, for a counter value total of 10.8 million euro, of which approximately 3.8 million subscribed by Invitalia (through Fondo Cresci al Sud) as anchor investor.
The price placement of the shares was set at 4 euro per share, corresponding to one capitalization equal to approximately 42.8 million euro, while considering the unlisted Price Adjustment Shares (PAS), the value of the economic capital is equal to approximately 50.8 million euro. The floating is equal to 25.23%, including only the listed ordinary shares in the calculation.
“I thank the investors who have shown interest and participation in the company and we are proud to have a partner like Invitalia by our side who believes in the goodness of our industrial project – commented theAD Antonio Lucio Valerio – We will be the only company from Molise in Piazza Affari and this makes us even more proud to represent our region in the name of sustainability and technological innovation”.
“The Stock Exchange is an important first step for RES which will serve to accelerate the growth plan already started and which it foresees investments functional to further streamlining the existing plant equipment, to develop new applied research projects in the Circular Economy and also to finance atargeted M&A activity on plants and third-party authorizations in neighboring geographical areas”, he added.
In the listing process, RES is assisted by EnVent Capital Markets, as Euronext Growth Advisor, Global Coordinator and Equity Research providers; Legance Avvocati Associati is legal and tax advisor; EPYON is in charge of the financial due diligence; BDO is the independent auditors, while Spriano Communication is the corporate and financial communication advisor. MIT SIM will act as Specialist.
(Photo: © Antonio Truzzi | 123RF)