AIM Italia requirements

AIM Italia is addressed to SMEs that are looking for reliable and sustainable growth project, within their reference market, with a balanced financial structure, in order to attract a diversified pool of investors.

Substantial requirements

These requirements refer to real growth process and company internal control:

  • Value creation
  • Sustainable and reliable strategy
  • Transparent accounting
  • Strong competitive positioning
  • Independent management control system
  • Growing revenues and margins
  • Experienced management
  • Strong financial structure

Formal requirements

Formal requirements refer to AIM Italia Regulation. AIM Italia, directly regulated by Borsa Italiana, is the equity market with the greatest flexibility in terms of requirements.

Formal requirements at IPO

 

AIM Italia

Free Float

10% (5 institutional investors)

Audited Financial Statement

1 (if existing)

Accounting Principles

Either Italian or International or American

Offering

Mainly institutional (retail with offering < €8m)

Other documents

Admission Document

Market Cap

No formal requirements

Advisor

Nomad /Global Coordinator

Appropriateness Declaration

Yes

Working Capital Statement

Yes

Governance

B.o.D. with 1 independent member

Investor Relations Manager

Mandatory

Website

Mandatory

Post IPO formal requirements

 

AIM Italia

Retail Negotiation

Yes

Type of negotiation

Continuous negotiation

Minimum lot

1500 Euro *

Takeover

Statutory

Specialist

Mandatory: Liquidity Provider, 2 annual researches

Nomad

Mandatory

Half Year data

Yes – within 3 months from half year closing

Annual data

Yes – within 3 months from year end closing

Communication threshold

Yes

MAR

Applicable

Price Sensitive Information

Communication, as soon as possible, of favoured information; i.e. acquisition and sell of asset, extraordinary operations, change in expected results, change within key manager. In case of operation with important impact on the issuer, an informative document is required

Technical Information

In order to have a correct and orderly market management, the issuer communicates further information; i.e. calendar of company events, change in share capital, change of company name

* Minimum lot of 1 share in case of companies with Mkt Cap > € 40 Mln and free float > 20%


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