(Finance) – SYS-DATan Italian operator in the ICT sector, has set between 3.20 and 3.80 euros per share L’price range of ordinary shares to be offered as part of the private placement reserved for qualified and institutional investors for the listing on Piazza Affari. The company will land at the beginning of July on Euronext Milan, a regulated market of the Italian Stock Exchange, and, if the conditions are met, on the STAR segment.
The final offer price will be determined through a bookbuilding process. It is expected that the company will implement a capital increase to service the exercise of the warrants on the day of the notice of admission to trading. This warrant capital increase will result in the issuance of 1,547,880 new shares, which will increase the total number of shares to 21,847,880. The indicative valuation range, based on the Price Interval and on the 21,847,880 shares that will represent the share capital after the earrant capital increase and before the capital increase to service the offer, is approximately between 70 million and 83 million EUR.
It is expected that the shares subject to the offer, including the full exercise of the greenshoe option, represent approximately 35% of the share capital of the company post-offer with the aim of satisfying the minimum free float requirements required by the Italian Stock Exchange for the STAR segment.
Following the approval and publication of the prospectus, the institutional placement is expected to begin on 24 June 2024 and end on 27 June 2024, unless early closure. The date of start of negotiations is expected around the day 2nd of July 2024.
As part of the offer, Intermonte SIM will act as Global Coordinator, Bookrunner, Specialist and Listing Agent.