(Alliance News) – Abruzzo-based company Pasquarelli Auto Spa made its debut in Piazza Affari on Friday, taking the number of SMEs listed on the Italian Stock Exchange to 197.
Founded in 1986 in San Salvo, Abruzzo, Pasquarelli Auto is active in the trade in new and used cars and commercial vehicles – through its own brand SecondLife – as well as in short, medium and long term rentals, spare parts service and sales.
During the placement, the company raised EUR 5.2 million, excluding the possible exercise of the over-allotment option, which would bring the total amount to EUR 5.6 million. At the time of admission, the free float was 15 percent and the market capitalization at the time of the IPO was EUR 34.8 million.
“Reaching such an important milestone as the IPO makes us proud and represents a milestone in the growth path we are pursuing, which has seen us grow steadily at a CAGR of 32 percent over the past 10 years,” commented CEO Marco Pasquarelli.
“Thanks to the IPO, we will be able to further consolidate our role as a mobility provider and accelerate the development of our services, including through growth through external lines, expansion of existing locations and territorial expansion, with a focus on SecondLife, the private label for the Sale of used cars, which is characterized by a unique and highly profitable business model.
Pasquarelli Auto shares closed Friday down 5.0 percent at EUR 1.33 per share.
By Giuseppe Fabio Ciccomascolo, Senior Reporter, Alliance News
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