Yet another listing canceled in Piazza Affari. After the recent step backwards by Italia Online, so does the paper mill Fedrigoni waiver of the IPO on the last day of placement.
“In agreement with Bnp Paribas and Unicredit Corporate & Investment Banking, as coordinators of the global offer – reads the note released yesterday evening – Fedrigoni and San Colombano have decided to proceed with the withdrawal of the global offer for the sale and subscription of Fedrigoni Spa ordinary shares”.
The decision, continues the note, “reflects the further and increasingly marked deterioration of financial market conditions during the offer period”. It is the fifth time in a row that an aspiring Italian company withdrew its offer at the last minute.
The placement also envisaged a capital increase aimed at growth and potential acquisitions, perhaps already planned. The company's debts are contained and their trend is declining.
In any case, Fedrigoni confirms the growth and development plans, emphasizing "that listing on the financial market remains a strategic objective, also in consideration of the strong appreciation and interest shown by Italian and international investors in the company".
The company, founded by the Fedrigoni family in 1717, specializes in the production of special papers, but also in the printing of banknotes and wine and spirits bottle labels.
