Favini announced that it has recently submitted its application for the listing of its ordinary shares on the Shares Telematic Market that is organized and managed by Borsa Italiana S.p.A. If the necessary requirements are met, the listing will be on the Star Segment, i.e. the segment for medium-sized enterprises with a capitalization between 40 million and 1 billion EUR, which undertake to comply with the requirements of high transparency and disposition for communication, liquidity (minimum 35% floating securities) and corporate governance (i.e. the set of rules regulating the management of the company) in line with international standards.
At the same time, Favini also asked the Italian Companies and Stock-Exchange Commission Consob to approve the information report on the admission to listing of ordinary shares, which was drafted under article 113 of the Italian Legislative Decree no. 58 of 24th February 1998 and article 52 of the Consob Regulation with decision no. 11971 of 14th May 1999.
The offer will only consist in a stock exchange placing reserved to Italian qualified investors and foreign institutional investors and will concern Favini S.p.A. ordinary shares deriving partly from a capital increase and partly offered to the company’s shareholders.
The operation will be sponsored by Intermonte SIM S.p.A., which will also act as Joint Global Coordinator together with Banca IMI S.p.A.
For the Favini Group, Finer S.r.l. will act as financial advisor and the d’Urso, Gatti and Bianchi Law Firm will act as legal advisor. Reconta Ernst &Young S.p.A. will be the auditing company. DLA Piper will be the legal advisor for the Global Coordinators.
«The listing on the Stock Exchange», says Favini Managing Director Andrea Nappa, «is for the company a natural step in the process of repositioning itself as a reference point in the outlet markets of luxury items and fashion, with its made-in-Italy high-quality products». Nappa adds that «the operation is subject to the issue of authorizations by competent authorities, which is a particularly important objective for Favini to be able to grow even further, especially in the sector of release supports, which are used in several sectors ranging from sportswear, to covers for smart phones and tablets, to fashion accessories and furniture».
Unicredit and Bnp Paribas will take care of the IPO (Initial Public Offer) of the Fedrigoni papermaking company at the Milan Stock Exchange at Piazza Affari, which is scheduled to take place next autumn. The identification of the two global coordinators of the offer (there won’t be any financial advisor) has followed the green light given to the listing project agreed upon by President Alessandro Fedrigoni. The placement will be structured following the Opvs model (with Opvs standing for the Italian Offerta pubblica di vendita e sottoscrizione, i.e. Public Sales and Subscription Offer: this operation is a combination between the offer to the public of already existing shares on the one hand and newly issued shares on the other), with parts of the shares sold by the holding company to the San Colombano family-owned holding company and parts subscribed by the parent company from Verona.