Unieuro was expected to make its debut on the Star segment on Tuesday morning. After a "slow-motion" start and a rapid drop below the 11 euro of the IPO, the shares have recovered and conquered an increase of 0,64% (11,07) on a day in which the FtseMib moves with difficulty and remains slightly lower at 11am.
Unieuro, the consumer electronics and household appliances chain founded by Paolo Farinetti, made its debut this morning on the Star segment of Piazza Affari. The shares opened at €11, with a discount compared to the range of €13-16,5 initially envisaged. Unieuro has placed 6,36 million shares on the market, for a free float of 31% which could rise to 35% if the green shoe is exercised. The company is capitalizing today 220 million and will distribute a 9% coupon in September.
“We preferred to have travel companions 'on board' with long-term goals. This is why we preferred to give up something from an economic point of view”, explained Giancarlo Nicosanti Monterastelli, CEO of Unieuro, regarding the reduction of shares on the market (to 6,36 million from 8,5 million) offered on the occasion of the Today's IPO on the Star segment of Piazza Affari.
The CEO of the consumer electronics and household appliances chain did not reveal any details on the shareholding structure, even if he indicated to reporters that he was talking about "Anglo-Saxon, Swiss, French and American funds". Following the listing, Unieuro will try to expand its network of points of sale with a rhythm of five openings a year and complete the operations already started. In particular, Nicosanti Monterastelli explained that the group expects to arrive 'by May' at the closing of the acquisition of Monclick, one of the main Italian online operators in consumer electronics.
