IVREA. Olivetti will also invest in Seco’s IPO, an Arezzo-based company specializing in the IoT (Internet of Things) technology sector, which is being listed on Piazza Affari. As part of the offer from the Tim group company, an order has been received for the purchase of approximately 7.5 million shares corresponding to 7% of Seco’s post-capital increase. The company, led by CEO Roberto Tundo, explains in a note that “it has decided to allocate this order in order to start a dialogue between Seco and Olivetti with the aim of building an industrial partnership, with particular reference to the development and dissemination of innovative hardware and software technologies and proprietary IoT solutions ».
The start date of trading on the MTA (Electronic Equity Market), Star segment, is scheduled for May 5, according to a term sheet sent by the bookrunners to investors. The Arezzo-based group specializing in IoT and minicomputer technologies has set the indicative price range for the IPO between 3.30 and 4.15 euros per share, which gives the group a post-capital increase of up to 445 million euros.
The offer for the landing on the stock exchange concerns up to 37.8 million shares, of which 27 million from a capital increase. The resources raised will be used to grow overseas and make acquisitions.
Last week, Borsa Italiana and Consob approved the admission to listing of Seco’s ordinary shares on the electronic stock market (MTA).