Quotations on the EGM market are back. Most of all, leading company in the geotechnics and geognostics sectors, for the construction of construction and infrastructure works and for the consolidation of foundation soils or support of excavation sources, in recent days presented the Pre-admission communication to the Italian Stock Exchange, in view of the admission to trading of its ordinary shares and warrants sul mercato Euronext Growth Milan dedicated to small and medium-sized businesses with high growth potential, and the start of bookbuilding.
The interval of rough price within which the final price will be identified is 5-7 euros per ordinary share. “Palingeo has been operating for over twenty years in a rapidly expanding market – that of specialized construction with a focus on public works” – he underlines Leonardo Spada, president and CEO of Palingeo. “An acceleration is expected in the coming years thanks to the driving effect of the interventions envisaged by the PNRR and the so-called Decree. Construction site clearing, as well as interventions linked to the 2025 Jubilee, the 2026 Cortina Winter Olympics and the 2026 Taranto Mediterranean Games. The capacity demonstrated in the context of the orders carried out over the years, the quality of the service offered, as well as the return of customers, in terms of continuity of the relationship, demonstrate, in fact, the quality and accuracy of the activity provided”.
The offering includes newly issued common shares and warrants, assigned free of charge, in the ratio of n. 1 warrant for every n. 1 Ordinary Share held, to the subscribers of the shares as part of the offer or exercise of the over-allotment option on the date of the start of trading of Palingeo ordinary shares on Euronext Growth Milan; to all holders of the Company’s ordinary shares on the date defined jointly with Borsa Italiana, according to the Borsa Italiana trading calendar, identified within 30 days following the date of approval of the financial statements as of 31 December 2023 by the Palingeo Shareholders’ Meeting. The warrant conversion ratio is defined as 1 new share for every 4 warrants owned.
The company also reports that in the share capital there are multiple voting shares (3 votes for each ordinary share) not subject to admission to trading, owned by FLS Holding (a company attributable to Leonardo Spada, Paolo Franzoni and Gianbattista Lippi, respectively president and chief executive officer, managing director and managing director of the company, the “existing shareholders”).