Itway subsidiary 4Science debuts tomorrow on the Vienna Stock Exchange
Itway Spa announced Wednesday that its subsidiary 4Science Spa has been admitted to the Vienna Stock Exchange, where it will make its debut tomorrow. The market capitalization is EUR28.0 million,... |…
(Alliance News) - Itway Spa announced Wednesday that its subsidiary 4Science Spa has been admitted to the Vienna Stock Exchange, where it will make its debut tomorrow. The market capitalization is EUR28.0 million, representing a price per share of EUR4.0. The listing of 4Science--in which Itway holds more than 71 percent--follows a broader and more structured capital and financial strengthening maneuver carried out through a funding envelope totaling EUR5.8 million, consisting of a debt part, through the signing of a loan with Banca Progetto Spa of EUR3 million with repayment in five years, assisted by the EUR2.5 million guarantee provided by Medio Credito Centrale in favor of innovative SMEs, and a large part of equity, through the subscription of a capital increase reserved for professional and institutional investors with the raising of EUR2.8 million that took place with 34 different international investors.
The free float is 29 percent. These resources will be used to finance the 2023-2026 business plan to address both 4Science's working capital needs and investments in people, technology and marketing as well as growth by internal and external lines. The first transaction put in place was the opening of the U.S.
subsidiary 4Science USA, based in Kansas City, Missouri state, in April, with significant expectations to be developed in the North American market. 4Science ended 2021 with EUR2.4 million in production value, up 35 percent on the previous year, and Ebitda of EUR730,000, up 78 percent and with margin of 30.0 percent, and net income of EUR330,000, up 38 percent. Net financial position at the end of 2021 was EUR480,000.
"Listed" status will allow the company to increase its international visibility and, specifically, to strengthen its positioning in Central European markets, where it already has important existing clients; it will also open up the possibility of dialoguing not only with Italian institutional investors but also those in Central and Northern Europe, as has already happened to other small Italian companies listed on Vienna; last but not least, there will be the possibility to finance part of the possible acquisitions also with listed paper; finally, the listing gives robustness and value to the stock option plans already resolved and future ones, allowing a greater retention of the existing management team and being able to attract new talent," Itway explained. Itway's stock is down 1.2 percent at EUR1.55 per share. By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter Comments and questions to EMAIL Copyright 2022 Alliance News IS Italian Service Ltd.
All rights reserved.