YOLO Group S.p.A. lists on Euronext Growth Milan
Aug 05 2022 - 10:30· 16th listing of 2022 on Euronext Growth Milan
· YOLO Group S.p.A. brings the total number of companies listed on Euronext Growth Milan to 183
· Total placement volume of the offering equal to €10 million
Milan – 5 August 2022 – Borsa Italiana, part of the Euronext Group, today congratulates YOLO Group S.p.A. on its listing on Euronext Growth Milan.
YOLO Group S.p.A. is one of the leading players in the Italian insurtech market of digital insurance services that enables on-demand and pay-per-use underwriting of products from the major national and international insurance groups.
An alumnus of TechShare, Euronext's pre-IPO educational training programme dedicated to Tech companies seeking access to capital markets, YOLO Group S.p.A. represents the 16th listing since the beginning of the year on Borsa Italiana’s market dedicated to small and medium-sized companies. It brings the total number of firms currently listed on Euronext Growth Milan to 183.
In the placement phase, YOLO Group raised €9.5 million. In the case of the full exercise of the over-allotment option, the total amount raised will be €10 million. The free float at the time of admission was 22.51% and the market capitalisation at IPO was €32.5 million.
YOLO Group Sp.A. also raised €3 million through a convertible bond.
Gianluca De Cobelli, CEO and co-founder of YOLO, said: “The digital evolution even of the insurance market is generating growth opportunities that require new skills and the adoption of enabling technologies. YOLO's innovative proposition, operating both as a technology enabler and a digital broker, is functional to the ongoing evolution. Therefore, we were able to complete the listing process by gaining the trust of both those who had already invested in YOLO and confirmed their support, as well as new investors, many of whom are industry players themselves. The financial resources raised by the listing will contribute to the implementation of the Company's business plan. The main objective is to increase the penetration of digital policies in Italy and abroad in partnership with the different players in the insurance market.”
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