Brilliant debut for Erg on Ftse Eb: the stock travels positive at +2,3% at 30 euros. With a market capitalization of approximately 4,55 billion, the company active in the production of electricity from renewable sources today, Tuesday 29 November, made its entry on the blue chip index, replacing Atlantia, who is preparing to leave Business Square Friday 9 December.
"We welcome Erg's entry into the Ftse Mib with great satisfaction and pride, 25 years after the Group's IPO in 1997 at an introductory price equal to about one tenth of the current value - he commented Edward Garrone, president of Erg –. Inclusion in this index rewards our industrial strategies and represents an incentive to continue our growth path focused on the development of the renewable portfolio to actively contribute to the energy transition process and at the same time create value for our stakeholders", concluded Garrone .
Like other Italian energy companies, Erg is in the spotlight of investors due to the changes to the Government study on the tax to be applied to so-called "extra profits” of energy companies. Although several investment houses believe that the impact for Erg would be "marginal". According to what was reported in the last quarterly report in September, the extraordinary contribution paid by the Ligurian group has so far been 37 million.
