Freshmen, Green Oleo debuts on the stock exchange tomorrow at 1.15 euros
Italian Stock Exchange communicated that the shares Green Oleo, company specializing in fine oleochemicals from renewable sources, have been admitted to negotiations on Euronext Growth Milan. The securities will be traded from Tuesday 11 July 2023 with ISIN code IT0005549768.
Il placement price of Green Oleo shares was fixed at 1,15 euro. Borsa Italiana has signaled that on the first day of trading of Green Oleo shares it will not be permitted to enter orders without a price limit (orders at best). The free float following the listing will be 16.97% or 18.7% if the green shoe option is exercised regularly, adds Green Oleo.
The company uses local raw materials, such as by-products from food industry processes (acid oils mainly from olive trees and animal fat), which are subjected to internal chemical processes such as, for example, splitting, distillation, separation, fractionation and hydrogenation, to obtain multiple oleochemical products such as distilled fatty acids with different matrices depending on the starting fat, stearic acids (stearines), oleic acid, glycerines, derivatives of fatty acids (soaps), esters.
The company operates in the Cremona plant, where 75 resources are employed, with an annual production capacity of 65,000 tons of which 50,000 of fatty acids and glycerines and 15,000 of esters. Green Oleo achieved a turnover of 80.8 million euros as at 31 December 2022 (41.4% generated in Italy and 58.6% abroad). INTEGRAL SIM acts as Euronext Growth Advisor.