Finanza.tech admitted to trading on Euronext Growth Milan, € 3.5 million raised
Finanza.tech, Italian benefit company active in the fintech sector and which works in support of SMEs, has received from Borsa Italiana the provision for admission to trading of its ordinary shares and warrants on the market Euronext Growth Milan, after successfully completing the placement. The trading start date is set for December 29th.
The bookbuilding was closed with an overall demand higher than approximately six times the offer, thanks to the consistent demand from qualified Italian and foreign investors. The total value of the resources raised with the IPO is approximately 3.5 million euros (excluding the exercise of the Greenshoe in capital increase for 417,000 shares), al price of € 1.20 per ordinary share, for an amount of approximately 2.9 million newly issued shares at the start date of trading. Following the placement and net of the greenshoe, at the start date of the negotiations, the share capital of Finanza.Tech will be made up of 12.91 million ordinary shares.
The capitalization of the company after the capital increase, calculated on the basis of the offer price, is approximately 15.5 million with a free float of 22.57%. After the placement, Sursum Corda holds 77.43% of the share capital (67.51% in the case of full exercise of the greenshoe and warrants) and the remaining 22.57% is on the market (32.49% with full exercise ). Sursum Corda has undertaken not to sell or otherwise dispose of 100% of the shares held for 24 months from the start of trading.
“The successful closure of bookbuilding and admission to Finance.tech negotiations it’s a great achievement. Investors have trusted our project and our business model “and the listing” is just the beginning of a multi-year growth path “, he said. Nicola Occhinegro, founder and CEO of Finanza.tech, underlining that the company has “planned investments aimed at enhancing our technology based on artificial intelligence, cultivating and attracting talents and increasing communication efforts, so as to broaden the basin for our reality and the concrete benefits that we can bring to entrepreneurial fabric “.