(Alliance News) - Porto Aviation Group listed on Friday on the Milan Stock Exchange, after raising EUR1.6 million during its IPO.

Porto Aviation Group is an innovative SME active in the aviation sector and in the design, manufacture and production of single-engine aircraft and propellers, covering all stages of the production process. The company, established in 1994, produces the single-engine ultralight aircraft and provides the following activities to customers: the sale of the aircraft and propellers and the maintenance and optimization of the aircraft.

The free float at admission is 15.2 percent and the market capitalization at IPO is EUR10.1 million.

Alberto Rodolfo Porto, chief executive officer of Porto Aviation Group, said, "The listing on Euronext Growth Milan of Borsa Italiana is, for me and for our entire company, a great opportunity for strengthening and one of the key steps in the direction of growth and development that we have set for ourselves; along with new aircraft models and further expansion in international markets."

Porto Aviation Group's stock is at parity at EUR4.6415 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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