Start of trading will take place on May 19th, 2017
Indel B S.p.A. (“Indel B” or “the Company”) the parent company to a group specialized in the manufacturing of cooling appliances systems for the mobile and mobile living addressed to the automotive, hospitality and leisure time sectors (marine and recreational vehicles) and AMP.FIN S.r.l. (the “Selling Shareholder”) announce the final results of the Global Offering for subscription and sale to qualified investors in Italy and institutional investors abroad (the “Private Placement” or the “Offering”) finalized to admission to listing of Indel B ordinary shares (the “Shares”) on the MTA-Mercato Telematico Azionario, the Italian automated screen based trading system organized and managed by Borsa Italiana.
As part of the Private Placement, which was successfully completed on May 15th, 2017, based on the Offer Price of Euro 23.00 per Share, requests were received for an amount of 2,108,478 Shares from 44 high-standing investors both domestic and international.
The requests received consisted of:
- 1,237,091 Shares from 25 Qualified Investors in Italy
- 871,387 Shares from 19 Institutional Investors abroad
Based on the requests received as part of the Private Placement, 1,600,000 Shares were placed with 43 investors of which 1,000,000 new Shares issued pursuant to the Capital Increase, 425,000 existing Shares offered by the Selling Shareholder and 175,000 existing Shares borrowed as a result of the full exercise by the Global Co-ordinator of the Over Allotment Option granted by AMP.FIN S.r.l. International Standard Organization IT02037650419
Such Shares were allocated as follows:
- 931,000 Shares with 25 Qualified Investors in Italy
- 669,000 Shares with 18 Institutional Investors abroad
No Shares were purchased by the Banks Syndicate as a result of the underwriting commitments.
Following the completion of the Offering the Company’s market capitalization based on the Offer Price is equal to Euro 128.4 million also taking into account the Capital Increase. The total proceeds from the Offering based on the Offer Price net of the fees due to the Banks and
without considering the possible exercise of the Greenshoe Option are equal to Euro 31.3 million of which Euro 22.0 million deriving from the subscription of the Shares issued pursuant to the Capital Increase and Euro 9.3 million from the sale of the Shares offered by the Selling Shareholder.
The Start of trading of the Shares on the MTA-Mercato Telematico Azionario, the Italian automated screen based trading system organized and managed by Borsa Italiana, has been scheduled by Borsa Italiana on Friday, May 19th, 2017. The Shares settlement will occur on the same date.
The Global Co-ordinator and Joint Bookrunner of the Offering is Banca IMI S.p.A. (Intesa Sanpaolo Group), which is also acting as Sponsor. Banca Akros S.p.A. is the Joint Bookrunner of the Offering, whereas Emintad Italy S.r.l. is acting as Financial Advisor to the Company.
The Company has appointed Studio Grimaldi as its legal advisors, whereas Studio RCC is acting as legal advisor to the Global Co-ordinator, Joint Bookrunners and Sponsor. PricewaterhouseCoopers S.p.A. are Indel B’s independent auditors. Studio Marchionni & Partners acted as Indel B Group’s tax advisors.
Polytems acted as FC advisor of the IPO.