(Alliance News) - Gentili Mosconi Spa is the third SME to list on the Italian Stock Exchange since the beginning of the year, making its debut on Thursday, bringing the number of companies listed on Euronext Growth Milan to 193.

During the placement, the company active in the luxury fashion market that offers design, transformation, printing and customization services for natural fabrics such as silk, cashmere and wools raised EUR20 million, which would rise to EUR23 million if the over-allotment is exercised.

The free float at admission is 21.1 percent and the market capitalization is EUR71.2 million.

Francesco Gentili, president and CEO of Gentili Mosconi, said, "We are proud to present Gentili Mosconi to the financial community, sharing this important milestone that represents the fruit of the commitment and dedication that have characterized our work every day for more than 30 years. We are convinced that the listing on Euronext Growth Milan represents a further step toward a future of growth and corporate prosperity that we wish to share with all our employees, customers and investors, who have believed in us and share our passion for beauty, creativity and quality, to whom we extend our heartfelt thanks."

"Gentili Mosconi's commitment to the sustainability of its production processes and respect for people and the environment will receive further stimuli from the daily confrontation with other entrepreneurial realities that share with us the same path of transparency; a path we have committed to pursue since the publication of the first sustainability report in 2020."

Gentili Mosconi's stock is up 2.1 percent at EUR3.8285 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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