(Alliance News) - Borgosesia Spa announced Thursday that it has approved a new strategic plan that sets the group's main industrial objectives for the three-year period 2024-2026, prepared by management with the support of Mediobanca Spa as financial advisor.

Based on the assessments carried out, the plan aims to steer the group toward a model that further qualifies Borgosesia as an alternative asset manager. The approved guidelines envisage giving strong impetus to a strategy that has already been outlined in part in the past, which involves the development of

its core business, based on investments in special situations & opportunities, while making its broad spectrum of technical, financial and real estate expertise available to third-party investors in whom Borgosesia would act as a co-investor.

Flows from the realization of the current portfolio will also be channeled along this address, according to the planned timeline and taking into account market conditions.

In addition, the plan rests on the consequent pursuit of a capital light operating model and the focus, for effect, on generating recurring income in terms of commissions, scarcely influenced by the dynamics of the fair values of the various underlyings, which will continue to characterize proprietary investments instead.

In order to pursue the objectives, the group intends to garner the interest of third-party investors essentially through the instrument of securitization, to which Borgosesia has already successfully resorted in its history and with respect to which it intends to equip itself with a more robust operational structure.

In its standalone version, the group estimates that at the end of the plan it will be able to achieve assets under management totaling EUR240 million compared with the current EUR150 million, to the formation of which it would contribute about 25 percent of its own resources, compared with about 87 percent of those of the portfolio under management as of last June 30.

Lastly, the plan contemplates a possible "strengthened" scenario, that is, based on growth options also by external lines thanks to the completion of extraordinary corporate transactions, consistent with the strategic lines described, with respect to which management has launched an initial phase of market analysis.

Borgosesia's stock is down 0.3 percent at EUR0.70 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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