The cliff sold to institutional investors approximately 11% of Banca Ifis (equal to six million ordinary shares), expanding the free float and liquidity of the stock.
The transaction was carried out through an accelerated bookbuilding procedure and closed at a price of € 9,10 per share, with a significant discount compared to yesterday's reference price (9,8 €). The total value of the sale thus reached 54,6 million euros. Intermonte Sim played the role of Sole Bookrunner.
The settlement of the operation (delivery and payment of the shares) will take place next 9 October. Once the procedures have been completed, La Scogliera – a company controlled by Sebastien Egon Furstenberg – will hold approximately 57% of the share capital of Banca Ifis (from the previous 67,8%), subject to a 180-day lock-up commitment.
"A historic operation for Banca Ifis was completed in a few hours - commented the CEO of Banca Ifis, Giovanni Bossi - which, in addition to confirming the quality of our work, allows us to look at the word with greater enthusiasm growth. The interest shown by investors in the placement confirms the growing confidence in the economic outlook and in the credit market in Italy and confirms the validity of Banca Ifis' business model”.
The institute's stock on the Stock Exchange dropped 4,5% in the mid-morning, to 9,36 euros, moving towards the placement price.
