Eps, the Spac promoted by Italian stockbroker Equita sim and closed-end fund manger Private Equity Partners (Pep), funded by Fabio Sattin and Giovanni Campolo, debuted well yesterday on the Aim Italia stock market closing at 10,4 euro, up 4% on the company’s placement price, i.e. 10 euro. The company had raised 150 million euro during the share placement. (see previous article on Bebeez), vs. the 100 million targeted initially.
“Today w celebrate the company’s debut on the share listing, but it is now that the real work starts”,declared Sattin, chairman of the special purpose acquisition company, during the ceremony held at Piazza Affari. ‘We were nearly shocked by investors’ response to our proposal (Eps shares had to be apportioned). We are hnored for being chosen by so many investors, but now starts the tough part of the job. If for many Spacs the business combination and the listing is the arrival point, for us it is just the starting point. We want to contribute to the invested companies’ growth and international expansion, with a strategic approach” said the chairman when interviwed by Il Sole 24 Ore.
Sattin stressed the fact that Eps is an instituion-backed spac, supported by Pep, a private equity fund manager founded 30 years ago, and boasting a 70 deal track record (including 10 stock market listings including Eps). and by Equita, that has already run many ipos.
Sattin said to MF – Milano Finanza: “The lsiting at the Aim segment of the Italian stock market enables us to choose among a higher number of companies potentially eligible for a business combination”. “In any event we look for entrepreneurs eager to grow and expand internationally, preferably with an already remarkable weight of exports on total sales” aadded vice chairman Stefano Lustig.
63% of Eps shares was placed with Italian institutional investors. The remaining 37% went to international ones. Moreover, 70% of Eps shareholders are fund managers, 17% are family offices and private banks. The remaining 13% is held by other instituional investors.