€138 million of funding for the IPO of SPAC INDUSTRIAL STARS OF ITALY 4
The offer covered 13,800,000 ordinary shares and 2,760,000 Warrants (divided into 910,000 Warrants A, 910,000 Warrants B and 938,400 Warrants C). The offer period started on 17 June 2021 and ended on 1 July 2021. The first day of trading on the Borsa Italiana’s AIM Italia market is 8 July 2021. Demand was driven by high-quality Italian and international investors, mainly long-term funds, family offices and private banking. INDUSTRIAL STARS OF ITALY 4 aims to direct its investment activity towards unlisted medium-sized Italian companies which have a significant international presence and/or international development plans, strong competitive positioning in their business sector, and management with proven experience. The IPO of INDUSTRIAL STARS OF ITALY 4 demonstrates the return of SPACs to the AIM Italia market and the role of Banca Akros as a key player in the listing of these corporate vehicles.
“This is a truly remarkable result,” commented Marco Turrina, Chief Executive Officer of Banca Akros, “which confirms the high standing of our advisors, who are among the best on the market, and the excellent level of our collaboration”. “The numbers speak for themselves,” continued Turrina, “€138 million of funding, more than 200 investors including private individuals, managers and institutional investors, all mainly Italian“. “This last aspect is very important,” he added, “since it is increasingly essential to find channels to invest the large amount of liquidity available on the market in the real economy of our country. Indeed, the resources raised by the SPAC, once the Business Combination is realised, will strengthen the equity of the target company allowing its further development, providing a concrete demonstration of a potentially virtuous connection between finance and real economy”.
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