SITI - B&T GROUP S.P.A. - Through the IPO the company has raised 29 million euros on the market
- Market capitalisation at the close of the first day stands at 100 million euros
Formigine, 31 March 2016 - SITI-B&T Group Spa, a manufacturer of complete plants for the world ceramic industry, announces that today it began trading its ordinary shares, convertible bonds and warrants on AIM Italia/Mercato Alternativo del Capitale organised and managed by Borsa Italiana S.p.A..
Fabio Tarozzi, Managing Director of SITI-B&T Group, commented: "We are very pleased with the success of the placement stage and with the interest shown by Italian and international institutional investors. Our debut on the AIM Italia market is a major milestone in our growth strategy and we are especially proud to be one of the most important listings in the segment in terms of both total raised capital and size. Ever since it was founded, our Group has evolved constantly and has been able to respond to market challenges through investments and targeted acquisitions. We are now looking forward to ambitious projects that require a renewed joint commitment because Siti-B&T Group sees the stock market launch not as a destination but as a starting point."
Salvatore Genovese from Banca Popolare di Vicenza added: "We are proud to be able to support entrepreneurs like the Barbieri and Tarozzi families, who have made their company an excellent global ambassador for Italian business. SITI B&T is a concrete example of how Italian SMEs with high growth potential are able to finance their development through AIM Italia."
Placement
Placement was completed very successfully with requests from Italian and international accredited investors and from the Italian general public. Overall demand exceeded supply.
The total value of the capital raised through the operation is 29 million euros, including 26 million euros through the issue of ordinary shares and 3 million euros through the issue of convertible bonds.
Warrants, granted free of charge with shares (1 for every 10 shares owned), recorded a value of 1.50 euros each, so investors who were shareholders on the trading start date were able to benefit from a theoretical performance of around 2%.
Ordinary shares were assigned the following identification codes: ISIN code IT0005171936, Alphanumeric Code SITI.
estimated 2015 turnover: approx. 171 million euros
estimated 2015 EBITDA: approx. 17 million euros
turnover generated abroad: approx. 80%
turnover CAGR 2009-2015: approx. 14% (from approx. 80 million euros at the end of 2009 to approx. 171 million euros in 2015)
SITI-B&T Group's IPO:
- the largest placement of financial instruments for an industrial company made on AIM Italia by a single Global Coordinator
the industrial group with the highest TURNOVER (2015 estimates) to be listed directly on AIM
- an innovative structure of the offering based on the introduction of Remedy Shares as an investor protection mechanism
The capital increase has been fully subscribed and paid up. Share capital, consisting of a total of 12,500,000 ordinary shares, amounted to 8,950,000 euros on the trading start date.
On the first day of trading the shareholding structure is as follows:
Shareholder | No. of shares | % of number of shares in circulation |
Barbieri & Tarozzi Holding | 9,250,000 | 74.00 |
Market | 3,250,000 | 26.00 |
Total | 12,500,000 | 100.00 |
Siti-B&T Group also announces that as of the date of admission to listing, the Board of Directors consists of the following 5 members: Fabio Tarozzi (Chairman and Managing Director), Marco Tarozzi (Managing Director), Giovanni Barbanti (Independent director), Federico Palmieri (Director), Claudio Forlani (Director). The new Board of Directors will remain in office until the date of the meeting called to approve the financial statements to 31 December 2018. At the Ordinary Meeting called for 18 April 2016, the majority shareholder B&T Holding
S.p.A. intends to appoint two additional independent directors, Mario Pagani and Gianfranco Buschini. Following these appointments, the company's Board of Directors will have three independent directors.
SITI- B&T Group is assisted in the procedure for admission to trading on AIM Italia by: Banca Popolare di Vicenza as Nomad, Global Coordinator and Sole- Bookrunner, SCOA Studio Consulenti Associati as Financial & Legal Advisor, Thymos Business & Consulting as Co-Financial Advisor, Intermonte SIM as Specialist, BDO as auditors, Grimaldi Studio Legale as Legal Consultant and Starclex for aspects of corporate governance.
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The CVs of the Directors of Siti-B&T Group can be found in the "Corporate Governance" section of the website: www.sitibt.com
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The Admission Document, the Convertible Bond Regulations and the Warrant Regulations are available for consultation at the company's registered offices and in the "Investor Relations" section of the website www.sitibt.com.
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SITI-B&T Group announces that for the purposes of disseminating information it has decided to make use of the centralised storage mechanism for regulated information called "1Info", managed by the company Computershare S.p.A. based in Via Lorenzo Mascheroni n. 19, Milan.
SITI-B&T Group is a manufacturer of complete plants for the world ceramic industry with a strong presence in all global markets. It delivers outstanding technological solutions and innovative services with a special focus on energy efficiency and production cost reduction. It offers customers a complete, personalised service including technical assistance with installation, maintenance and modernisation of production lines. SITI-B&T Group operates through the following business units: Tile (complete plants for tile production), Projecta Engineering and Digital Design (digital decorating machines and digital graphic design projects), B&T White (complete plants for sanitaryware) and Ancora (surface finishing systems for ceramic products).
www.sitibt.com
Image Building
Simona Raffaelli, Arturo Salerni, Emanuela Borromeo Tel +39 02 89011300
siti@imagebuilding.it
Banca Popolare di Vicenza S.p.A. Tel +39 02 62481559
Sitib&t@popvi.it
Marco Fiori
INtono Comunicazione marco.fiori@intonocomunicazione
.it Mob. +39 334.6007739
This press release is made for information purposes only and does not constitute a public offering or an invitation to subscribe for or purchase any financial instruments in Italy or in any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful.
Not for distribution in the United States of America, Canada, Japan or Australia.
SITI - B&T Group S.p.A. issued this content on 31 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 April 2016 13:17:09 UTC
Original Document: http://www.sitibt.com/wp-content/uploads/2016/04/Press-Release-Debut-on-AIM-Italia.pdf
