Wednesday, January 19, 2022

Italian bicycle saddle manufacturer Selle Royal aims to list on the Milan Stock Exchange

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MILAN, Jan. 13 () – Italian bicycle saddle maker Selle Royal Group said Thursday it intends to list on the Milan Stock Exchange.

The group, which reported revenue of 205 million euros ($ 235 million) and a core profit of 36.4 million euros for the fiscal year ended June 30, is controlled by the Bigolin family, while private equity firm Wise Equity bought a 33 percent stake in May. Last year.

Selle Royal also owns the Brooks England and Crankbrothers brands and manufactures accessories and components for bicycles.

The offer will consist of new and existing shares sold by two shareholders, the company said in a statement, without giving details about the timing and size. It said it targeted the Milan Stock Exchange’s Star segment for small and medium-sized companies, which would require at least 35% free swimming and set stricter rules on governance and liquidity.

Bigolin retains control of the company after listing due to the family holding’s loyalty share scheme.

Equita SIM and UBS Europe SE will act as joint global coordinators for the IPO. Capital For Progress Advisory is a financial advisor.

1 dollar = 0.8722 euros Elisa Anzolin’s report

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