Collected 915 million for a debut capitalization of 3.375 billion
Debut in red on Euronext Milan per Ariston Holding, player global in sustainable solutions for the comfort of hot water and space heating. Late in the morning, the stock, in a negative context for the entire Piazza Affari, now marks a drop of 3.58% to 9.883 euros compared to the 10.25 euros set at the time of placement. Based on the offer price, the proceeds from the transaction amounted to approximately 915 million for a debut capitalization of 3.375 billion.
The company intends to use the proceeds of the placement for support and develop further growth, invest and accelerate organic growth and to finance acquisitions of businesses, technologies and intellectual property rights in the future.
“With a history of over 90 years, the listing represents a new phase for the group, a logical step to develop our aspiration to be one of the leading global players in comfort sustainable in hot water and heating. The long-term success of our group, to be shared with those shareholders who have joined us atIpo, it is essential for me personally and for my family. We look forward to working for our new shareholders to reward their confidence in our strategy, “he commented Paolo Merloni, executive chairman of Ariston Group upon completion of the placement.