(Finance) – SBE-Varvit (SBEV) has started the process for listing on Euronext Growth Milan (EGM), the Italian Stock Exchange market dedicated to SMEs with high growth potential. Admission is scheduled for November 6th, with the debut in the following days. Equita SIM is Euronext Growth and Specialist.
The group is active in the production, distribution and marketing of a wide and diversified range of fastening components including screws, bolts, nuts, cold and hot pressed products, fasteners and mechanical components with high engineering content.
As of December 31, 2022, SBEV recorded a sales total of 392 million euros, the majority in Europe (86%). The products are intended for marketing in various end markets including the following: agricultural machinery, earthmoving machinery, industrial machinery, commercial vehicles, personal mobility, wind power and infrastructure, for a total of over 2,500 clients.
The board of directors is made up of 6 members: Alessandro Vescovini, President; Federico Vescovini, Executive Vice President; Alberto Vescovini, Director with delegated powers; Pierluigi Mastrorilli, Non-executive Director; Fabrizio Vicari, Non-executive Director; Andrea Pez, Non-executive Director. The Board of Directors will be integrated with the appointment of a seventh member, who can be classified as independent.
Before admission, the capital is 100% controlled by Vescovini Group SpA (33.3% attributable to Alessandro Vescovini, 33.3% to Federico Vescovini and 33.3% to Alberto Vescovini).
The share capital is divided into 117,000,000 shares, of which 117,000,000 A Shares (special category of shares held by Vescovini Group SpA, which give the right to 3 votes each and 0 ordinary shares). The A Shares are automatically converted into shares, in a ratio of 1 share for each A share, in the event of subscription by, or transfer to, or in any case in the event that they are held, directly or indirectly, by parties other than Vescovini Group SpA. Only ordinary shares will be admitted to trading and closer to admission, the conversion of a to-be-confirmed number of A shares into ordinary shares is expected as part of the offer for sale.