Great success for Revo, the insurance spac led by the Alberto Minali duo and chaired by Claudio Costamagna, respectively former general manager of Generali and former president of Cdp. The placement of the shares with institutional and professional investors ended with higher-than-expected funding, amounting to 220 million euro.
The result becomes even more striking if we take into account the volatility that characterized the stock markets in the last stock market week, with investors worried about the increase in inflation, but also about the ups and downs of bitcoins. The offer met strong demand from investors, against which orders up to 220 million have been accepted, 20 million more than the initial target set at 200 million euros, underlines the company in a note.
After the successful IPO, everything is ready for the debut at Piazza Affari. Revo will land on Aim Italia Wednesday 26 May. Intesa Sanpaolo and UBS acted as Joint Global Coordinator and, together with Equita Sim, as Joint Bookrunner.
We remind you that, last May 10, the day of launch of the SPAC, he stated that the company's aim will be to "change the paradigm of the insurance sector, launching a range of new digitally native products with greater transparency". There are two main objectives: to conquer the leadership of the Italian market for special risks for SMEs worth over 1 billion in premiums and become the first provider of parametric insurance solutions.
