Illa, a leading company in the production and marketing of aluminum cookware with non-stick coating, has signed an investment agreement with the institutional investor Negma, which will subscribe convertible bonds cum warrants in 40 tranches for a total value of 21 million.
“Thanks to these financial resources, Illa will be able to carry out an important investment plan that will allow the company to become efficient and competitive,” says Pierpaolo Marziali, CEO of Illa. “The financial resources can also be used to develop a whole series of new products that are attentive to environmental sustainability as well as to the demands of end consumers. Lastly, the new finance could be used for non-organic growth operations that the sector seems to envisage.”
On 23 January the Illa Shareholders’ Meeting will meet in an extraordinary session to approve the loan and a reverse stock split at a ratio of 1 new share for every 100 outstanding.