Favini: everything ready for the stock exchange


For its début on the stock exchange, Favini opts for an offer reserved to institutional investors only. This is a mixed public offer of sale and subscription for qualified investors in Italy and institutional investors abroad. Once the market launch in the Star segment has been completed, the company will have floating capital that accounts for more than half its total capital, making it a public company in Anglo-Saxon style. Banca Imi and Intermonte act as joint global coordinators. The aim of the company specialised in luxury packaging and prints for synthetic leather and to locate new capital to finance the growth, including for external lines, and to allow the current shareholders to reduce in capital. The private equity fund Orlando Italy is today the major shareholder with a stake of 62.4% after the 2008 acquisition. Crédit Agricole Capital, Lacim Srl and V.N. Ghedini, which currently hold a respective 20.5%, 12.9% and 1% of the company, will instead sell all shares. Orlando and the management will have a lock-up (period of time during which the management and important investors are prevented from selling their shares) of 18 months.