SMEs brave enough to be listed on Piazza Affari should be rewarded. For this reason ABI and Borsa Italiana signed today an agreement called "Ipo Bank Facility": the banking system will make one billion euros available over the next three years for the most daring small and medium-sized enterprises. All through ad hoc credit lines, determined on the basis of a multiple of up to twice the capital raised in the IPO in the form of a public subscription offer. The loan will be of purpose, medium to long-term and must be intended for a material or financial investment, such as an acquisition, but cannot replace any pre-existing debt.
The initiative is part of the framework agreement signed in January 2010 to promote listing as a growth tool. “The main Italian banking groups have joined – reads a joint note from Abi and Borsa Italiana -. Companies that turn to the stock market to support their development plans will be able to double or triple the financial resources to allocate to their growth plans”.
