Positive debut at Piazza Affari for Revo, the insurance SPAC led by Alberto Minali (in the role of CEO), chaired by Claudio Costamagna and promoted by Stefano Semolini, Jacopo Tanaglia and Simone Lazzaro. The share made its debut today, 26 May, on Aim Italia, the Borsa Italiana index dedicated to SMEs with high growth potential. Mid-afternoon shares gain 1,8% reaching €10,18 against a placement price of €10. Revo is the tenth company admitted to the Aim since the beginning of 2021 and brings the number of companies listed on the market to 144. Therefore, the number of spacs currently admitted to Euronext markets rises to 41, of which 30 are on Borsa Italiana.
On May 20 Revo completed the placement of the shares with institutional investors, raising 220 million euros, 20 million more than the set target. The spac intends to conquer the leadership deThe Italian market of special risks for SMEs worth over 1 billion in premiums and become the first provider of parametric insurance solutions.
Revo's next objective is therefore to select the target of the business combination, with the aim of closing it within the year. "We want to build an innovative business from a technological point of view, we are convinced that the sector is still quite backward from this point of view, so having something extremely innovative is very important in our opinion", said the President Costamagna.
“We set ourselves fast times, but when you come to terms with another side, you can't set certain times. Our idea is to do it within the year. We have 24 months of time, so we have time, and since it is an important step we want to do it well ”, added the former president of Cdp.
“It is a beautiful project and we hope to complete it quickly. It means identifying the target in the coming months and then arriving at a business combination by the end of the year”, he reiterated CEO Minali.
