Leading Italian temporary employment agency OpenjobMetis announced the closing of the global offer for its ordinary shares yesterday and expects to list at the Italian Stock Exchange on the Star segment next December 3rd (download here the press release).
OpenjobMetis’s global offering for sale and subscription referred to a maximum of 5 million shares of which a maximum 2.9 million newly issued shares are originated by a capital increase. The  company was price at a 6.6 euro price per share on the high side of the 6-7 euros range.  Proceeds of the ipo will be then 33.3 million euro, excluding the over allottment option and gross of fees and expenses relative to the ipo itself. OpenjobMetis will start then its trading at the Italian Stock Exchange with a 90.5 million euros market capitalization.
The global offer included a public offering of a minimum of 500,125 shares, equal to approximately 10% of the shares object of the global offering to the general public in Italy and to the employees; and an institutional offering of up to 4,500,000 shares, equal to approximately 90% of the offered shares reserved to Institutional investors in Italy and abroad.
Wise Equity II fund, managed by Italian mid-market private equity firm Wise sgr, will reduce its stake in the company from 67.3% to 40.9% (or 35.5% after the possible exercise of the greenshoe option) while the Vittorelli family will own a 17.8% stake and the management, led by ceo Rosario Rasizza, will own a 4.8% (see here a previous post by BeBeez). So the floating capital will be 35.4% or 41.9%, in case of exercise of the overallottment option.
OpenjobMetis was born in 2011 from the merger from Metis in Openjob. The acquisition of Metis by Openjob was the fourth one by Openjob  starting from year  2003,  when Wise Equity II fund bought an 87.5% stake in the company’s shareholders capital. Openjob actually had bought then Pianeta Lavoro, In Time, Quandoccorre Interinale and Just On Business. In January 2013, OpenjobMetis acquired also Corium.
