Our company was honored as “Best IPO 2023” at the AssoNEXT Awards, an event recognizing excellence at Euronext Growth Milan, organized by Asso Next, the Italian Association of Listed SMEs.
The August placement was very successful, with total demand being 2.3 times the amount originally offered (amounting to €5 million).
This expression of interest had prompted the founding shareholders to increase the total countervalue of the placement to 6 million euros, entirely as a capital increase following their decision not to avail themselves of the greenshoe option, which was originally planned to be sold, thus allocating the entire amount of the collection to serve the Company’s strategic plan.
The minimum funding required by the regulations was covered entirely by leading foreign investors.
The comment of our CEO, Maurizio Ciardi
“We are very proud of this recognition.” said Maurizio Ciardi, President and CEO of La SIA, “The listing represented an important turning point in our company’s growth path; the trust placed in us by investors, especially foreign ones, is a source of pride and increasing commitment. We would like to thank AssoNEXT for the recognition, the whole team of La SIA and the advisors who have supported and sustained us during these months.”
Overview of our recent financial results
The Company recently reported the following financial results as of September 30, 2023:
– Value of Production: 11.1 million euros compared to 9.7 million euros in September 2022 (+13.7%);
– NFP: €4.0m (cash) compared to €1.1m (debt) in December 2022;
– Backlog: 34.9 million euros compared to 29.2 million euros in September 2022 (+19.8%)
– Guidance 2023 and Dividend Policy 2023-2025 with a Payout Ratio of 75% on net income confirmed
Profile and mission of Assonext
AssoNEXT is a trade association dedicated to companies listed on the Euronext Growth Milan market. Its mission is to assist, support and represent the interests of these societies, which due to their size, characteristics and dynamism require a specific approach and collective representation. AssoNEXT is committed to improving the regulatory framework for SMEs accessing the capital market, focusing on the study, dissemination and treatment of issues and problems related to the trading of financial instruments on platforms such as Euronext Growth Milan, a multilateral trading system operated by Borsa Italiana S.p.A.
Assonext Awards and the Best IPO 2023 award.
The Assonext Awards are an annual event designed to celebrate excellence in the Euronext Growth Milan market. This celebration is held in the presence of a large community consisting of businessmen, managers, representatives of institutions, professionals, academics and journalists. Among the various awards given, the “Best IPO 2023” award is an important recognition for companies that have shown the most remarkable performance in their IPO year. The event is organized in collaboration with Borsa Italiana, emphasizing its central role in the Italian financial landscape.
Due to its sector and innovation characteristics, La SIA’s IPO garnered great interest from leading Italian and foreign institutional investors. Active in the field of engineering and design, specializing in the design of telecommunications infrastructure, civil construction, and energy plants, as well as in technologies for the safety and protection of the country’s artistic and historical heritage, La SIA recorded the best performance among IPOs in 2023. Along with La SIA, awards were given to Illimity who acted as EGA and Global Coordinator and GOP as Legal Advisor.