The Delisting alert was launched a few days ago by Consob. They were 27 this year, for a total of 28 billion in capitalization in the face of 21 new listings. However, the number one at Borsa Italiana intervened to reassure people, Fabrizio Head, who spoke of a “cyclical” and “international” phenomenon, underlining how in recent years IPOs have outnumbered delistings.
Head: “Delisting is a cyclical phenomenon, facilitating entry into the stock market
On the bond market, “in this period we are trying to repatriate broadcasters who had chosen other places, especially Luxembourg, to be listed here in Milan", explained Fabrizio Testa, CEO of Borsa Italiana, during the National Export Conference at Piazza Affari. Delisting, he then added, "is not just an Italian phenomenon, It's an international phenomenon. They are quite cyclical phases. However, in recent years we have brought Many more companies are listed than have been delisted'” Delisting has “various natures” and “what we try to do is facilitate entry into the stock market”.
“Delisting is part of the life of a company on the stock exchange, so there are times when the stock exchange can support the growth path, other times when companies make other choices,” he added. Barbara Longhi, head of primary equity markets at Borsa Italiana, on the sidelines of the second day of the National Export Conference at Piazza Affari, responding to those who asked her for a comment on the increase in delisting operations in the Italian market recorded in recent years. According to Lunghi, "the bulk of delisting is due to industrial operations, therefore M&A operations".
The manager then added that "in the last ten years the balance between listings of listings has been a positive balance, in the order of magnitude of approximately +40 percent. So there is also a sort of generational change in the stock market, as is right: perhaps sectors seeking capital and companies seeking capital and operating in sectors that are growing significantly enter the stock market, perhaps companies that in some cases have exhausted their alliance with the stock market leave”. For Lunghi, therefore, “it is a phenomenon that happens all over the world, including Italy, and is part of the usual market dynamics”.
