Leonardo ha completed this morning the placement announced by surprise last night 2,6 million Avio shares, equal to 9,4% of the share capital, to finance the pro-rata portion of the €400 million capital increase of the aerospace group. After the placement, the company led by Roberto Cingolani fell from 28,7% to 19,3% of Avio's capital and the pro-rata share of the capital increase to be financed is 77 million.
The placement, carried out through a procedure of accelerated bookbuilding, it happened at a price equal to € 37,50 per sharewith one 8,7% discount therefore compared to the closing price of yesterday, October 28th, at 41,10 euros. The total proceeds for Leonardo are 97,5 million.
“The effect is substantially neutral on Leonardo's net financial position,” he comments. Equity which does not see any implications regarding control, given that Avio is subject to the golden power.
As part of the transaction, Leonardo has undertaken a 90-day lock-up commitment for its remaining Avio shares, in line with market practice. Intesa Sanpaolo, Jefferies, and Morgan Stanley acted as joint global coordinators and joint bookrunners.
Le capital increase resources, To be completed by the end of the year, the funds will be used to increase production capacity: 80% will be allocated to the construction of a new defense plant in the United States (initially with a capacity of 700 tons of aviation fuel and 400 employees, with the possibility of doubling capacity if demand requires it), while the remaining 20% will support new investments in Italy to strengthen our plants and integrate with suppliers.
Il Avio title, Yesterday, the stock market closed down 8,67% to 41,10 euros, and this morning it is trading at 39,00 euros, a further drop of 5,11%. Leonardo is trading at 51,02%, down 1,43%.
IERI (Yesterday) Avio had communicated The first nine months of the year saw record numbers. The Colleferro-based aerospace group closed the January-September 2025 period with an order backlog of €1,86 billion, up 7,8% compared to the end of 2024, and net revenues of €351 million, up 26,3% year-over-year. The CEO, Julius Ranzo, in the call with analysts, he reiterated that theEBITDA will be flat until at least 2028".
