Italia Independent flies to the Ftse Aim Italia following the entry into the capital of the new shareholder, Creative Ventures. At 11.45 the share gained 18,04% to 3,01 euros. Very high volumes
The company founded by Lapo Elkann announced yesterday, 4 February, that it had reached an agreement with the Creative Ventures fund aimed at significantly strengthening the group's assets.
The agreement provides a reserved capital increase for a total amount of 8 million euros. 6 million will be subscribed by the American fund, 2 by Lapo Elkann. The transaction will be carried out at the price of 2,35 euro per share. The founder also waived the repayment of the 5 million bond subscribed in 2017.
At the end of the corporate reorganization, the new investor will hold a stake of approximately 25,44% of the capital and Lapo Elkann will remain the majority shareholder with a 53,59% stake
"The operation as a whole involves a reduction of the debt exposure of 13 million, compared to the 21 million we expected at the end of 2018, providing fresh resources to support the relaunch of the group", commented the Equita analysts, who however fear that the restructuring phase may have weighed on the company's numbers recorded in 2018.
“The tied cash injection and the allocation to the equity reserve of the debenture loan will ensure that the company can now enter a new phase linked to a more articulated and incisive commercial relaunch having the tools and resources capable of pursuing a sustainable growth on new channels and new markets”, explains Italia Independent. “StI am happy to have found new travel companions who will support me and the company in this phase of relaunch and who will help us grow the Italia Independent brand in the world” comments Lapo Elkann.
