IMD (International Medical Devices), active internationally in the MedTech sector and in particular in diagnostic imaging systems, has been admitted to trading on the Euronext Growth Milan market. Trading is expected to start on Friday 7 July 2023.
In the financial year ended 31 December 2022, IMD generated consolidated sales revenues of 41.8 million (of which over 72% from abroad), an Ebitda of 5.6 million (Ebitda margin of 13.5%) and a Net Profit of 3.2 million. Shareholders’ Equity stands at 13.9 million Euros, operating cash flow at 4.2 million and cash conversion at 74% (operating cash flow/Ebitda).
The admission to listing took place through the placement aimed exclusively at leading Italian and foreign institutional / qualified investors, which generated a demand 1.44 times higher than the offer, of a total of 2,910,750 ordinary shares (2,646,750 new issue and 264,000 from the exercise of the over-allotment option).
The placement price of the shares involved in the offer was set at 2.05 euro per share, with total funding of approximately 6.0 million and an expected market capitalization at the start date of trading of approximately 36.2 million ( post-money equity value).
The free float will be equal to 15.00% of the Issuer’s share capital without taking into account any exercise of the over-allotment option (in the event of full exercise of the greenshoe option, the free float will be equal to 16.49%).