On 2 July 2018, Longino & Cardenal S.p.A. obtained the admission of its shares to the AIM Italia market organized and managed by Borsa Italiana. Negotiations began on 04 July 2018.
Integrae SIM has acted as Nomad, Global Coordinator of Private Placement and is currently a Specialist of the Issuer.
The total equivalent of the resources raised through the operation amounts to Euro 4.95 million, through the issuance of 1,375,000 shares, of which 1,250,000 newly issued shares and 125,000 shares were put up for sale.
The placement price The unit price of the shares resulting from the placement was set at Euro 3.60; based on this price, the market capitalization at the beginning of the negotiations is equal to Euro 22.5 million.
The enterprise. Founded in 1988, Longino & Cardenal S.p.A. researches, selects, and distributes, for over 30 years, rare and precious foods for high-quality catering, anticipating international gastronomic trends. The company has developed a food proposal of excellence, with over 1,800 first-class products, distributed by a commercial network of about 80 agents, to inspire Italian and foreign high-profile food operators with the best raw materials. The Group, with headquarters in Italy, is present in Hong Kong, Dubai, and New York. It has about 5,000 clients, including 80% of the starred restaurants in the reference markets, and about 100 strategic providers, supported by efficient logistics to guarantee freshness and quality.
Ultima Ricerca Longino & Cardenal
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BREAKING NEWS – 16.04.2024
Leggi il pdfIn the press release of April 11, 2024, Longino & Cardenal SpA, a company active in the research, selection and distribution of rare and valuable foods and a reference point for national and international haute cuisine, announced the successful establishment of Longino Digital Factory Srl, with the strategic objective of promoting new activities in the digital-food sector by leveraging its know-how gained from more than 30 years of experience with the collaboration of more than 5,000 stakeholders in the industry, including star chefs.
Specifically, Longino Digital Factory Srl is the first result of the new strategy line undertaken by the Group, following the digitization process initiated in the pandemic period (2020), which enabled operational and organizational efficiency, together with the creation of three e-commerce platforms dedicated to the end consumer (B2C) in Italy, Hong Kong and Dubai, along with a specific e-commerce for customers in the restaurant sector (B2B). At the same time, new digital marketing strategies were introduced, with many activities internalized through the creation of a dedicated team.
The new Company, with a 51.0% shareholding of Longino & Cardenal SpA, 30.0% of Vincenzo Cannata (former Digital & eCommerce Director of L&C ) and 19.0% of Lorenzo Errico (former Digital Marketing Manager of L&C), will focus on spreading gastronomic know-how by promoting the digital transformation for Food & Beverage companies, offering consulting, training and assistance in implementing digital marketing and communication strategies, market analysis, website and e-commerce management, content creation, social media campaigns, and SEO and SEM optimization.
At the same time, the Group communicated the managerial reorganization of the Administration and Finance function, which saw the departure of Dr. Paolo Barbieri, with immediate delegation to the executive councilors Riccardo Uleri, former Chairman of the Company, and Cristina Sambuchi, former CFO of the Company from 2003 to 2019 and current Investor Relations Manager. This reorganization is part of the continuous cost optimization plan enabled by the investments made in digitization in recent years to streamline business processes.
In light of the press release, we confirm our estimates: target price € 4.00 BUY rating and risk MEDIUM.
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