Italia Independent confirms the debut boom on the Stock Exchange. The stock, which debuted today at Piazza Affari, rose by 13% to 29,41 euros, further increasing the gains compared to the +10% recorded at the start. The shares that were placed at €26 per share reached a maximum of around €30,05 (+15%)
The Made In Italy eyewear group, founded by Lapo Elkann, landed on the Aim Italia market (dedicated to SMEs) collecting 13,6 million euros during the placement phase (Equita Sim oversaw the operation). The post-listing free float is 23,76% with a capitalization of 57,46 million. After the listing, Lapo Elkann has 48,8%, the managing director Andrea Tessitore 8,8% and three other shareholder-managers have shares below 4%. The shareholders have an 18-month lock-up on the actions.
However, the group is aiming at the main market and could theoretically already access it in 18 months by exploiting the fast-track dedicated to Aim companies, a streamlined and low-cost procedure that allows passage to the main market of the Milanese list. "The future goal is to find us on the major market," said Lapo Elkann during the press conference.
Italia Independent controls the eyewear company Italia Independent Spa (72,5%) and the Independent Ideas communication agency (75%) and in 2012 recorded a turnover of over 15,6 million euros and a gross operating margin of 2,9 million. After the listing, the group plans to repurchase the minority shares of the eyewear company from the Modenese shareholder Brama Sportswear. The operation will be completed on the basis of an agreement signed a year ago which recognized a value of the company of 20 million euros, decidedly lower than the value expressed today on the Stock Exchange. The plans also include the opening of a store in the Milan fashion district, followed by the other markets the group is targeting: Spain, France and the USA.
