Indigestible debut for the Red shrimp at Piazza Affari. This morning the food and wine publishing house makes its debut on Borsa Italiana's AIM with a low price. About an hour after the start of trading, the company's stock dropped by 12,5%, to 1,40 euros per share.
In 2014, Gambero Rosso had achieved a turnover of almost 15 million euros, for an Ebitda of 3,4 million. The proceeds from the listing are intended to strengthen the TV and digital part of the platform dedicated to taste.
Funding functional to the listing was carried out through an institutional placement, a public offer and an offer reserved for employees. A total of approximately 7,1 million euro was raised with the subscription of 4.449.000 newly issued ordinary shares at a price of 1,60 euro each, entirely as a capital increase. The market capitalization is approximately 23 million and the free float of the post-listing company amounts to 30,06% of the share capital.
"The capital increase of 7 million was our goal and we have achieved it - said the chairman Paolo Cuccia last week - although the difficult market conditions and the complex international situation have forced important companies, in recent months, to desist from the listing".
Finally, the Gambero Rosso training platform, which includes 7 professional education poles in Italy, will be enriched with new offices with the imminent opening of Milan and 4 Masters in Higher Management Training.
