Bifire lists on Euronext Growth Milan

May 31 2022 - 10:01

  • Fifth listing of 2022 on Euronext Growth Milan
  • Bifire brings the total number of companies listed on Euronext Growth Milan to 175
  • Total placement volume of the offering equal to €10 million

Borsa Italiana, part of the Euronext Group, today congratulates Bifire on its listing on Euronext Growth Milan.

Bifire is a company active in the production of materials for fire protection and thermal insulation in the construction and industry sectors.

Bifire represents the fifth listing since the beginning of the year on Borsa Italiana’s market dedicated to small and medium sized companies, and it brings the total number of firms currently listed on Euronext Growth Milan to 175.

In the placement phase, Bifire raised €10 million. The free float at the time of admission was 15.62% and the market capitalisation at IPO was €64 million.

Alberto Abbo, CEO and Co-founder of Bifire, said: "The debut on Euronext Growth Milan represents an important milestone for Bifire, of which we are very proud. At the same time, however, we also consider it the beginning of a new development path which, through a structured growth, will allow us greater visibility in the sector of the production of products for thermal insulation and fire protection. We believe that the listing on the EGM market will allow us to strengthen and improve our production capacity thanks to the resources collected and will also allow us to accelerate development in high-growth and high-margin segments."

Alfredo Varini, Co-founder of Bifire, Technical Sales and R&D Director, said: "Our goal, thanks to the new financial resources, is to accelerate the expansion of the company which today can count on the plants in Desio, Paderno Dugnano and Varedo to create 100% Made in Italy products. The capital raised during the IPO will also support the green revolution that Bifire has been carrying out for years by continuing to invest in research and development. Attention to environmental issues is a mission that is expressed in the adoption of ESG (Environmental, Social, Governance) parameters and in the drafting of the Sustainability Report."

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