G.M. Leather S.p.A. lists on Euronext Growth Milan

Jul 13 2022 - 11:35
• 11th listing of 2022 on Euronext Growth Milan

• G.M. Leather S.p.A. brings the total number of companies listed on Euronext Growth Milan to 181

• Total placement volume of the offering equal to €4 million

Milan – 13 July 2022 – Borsa Italiana, part of the Euronext Group, today congratulates G.M. Leather S.p.A. on its listing on Euronext Growth Milan.

G.M. Leather S.p.A. is active in the processing and marketing of leathers for the creation of products for the furniture industry, leather goods and fashion, tanneries and the automotive aftermarket.

G.M. Leather S.p.A. represents the 11th 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 181.

In the placement phase, G.M. Leather S.p.A. raised €3.6 million excluding the potential exercise of an over-allotment option. In the case of the full exercise of the over-allotment option, the total amount raised will be €4 million. The free float at the time of admission was 12.41% and the market capitalisation at IPO was €19.3 million.

Carmen Marcigaglia, Chairman of G.M. Leather S.p.A., said: “I’m excited and proud to be here at Borsa Italiana today for the listing of my company, G.M. Leather S.p.A, founded by my family 45 years ago, which is continuing with me, my husband and our co-workers today, united in a path of growth and continuous entrepreneurial challenges. Today starts a new journey for all of us. Listing will support our future growth, allowing us to pursue innovation, ethics and dedication despite the current macroeconomic context. The IPO today represents a starting point to accelerate the growth of our development projects and consolidate our presence and reputation at an international level. We’d like to thank those who work with us daily, our new investors and shareholders to whom we want to assure that we will continue to put all our passion, dedication and expertise into achieving increasingly challenging future goals.”

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