BREAKING NEWS – 02.07.2024
In the press release of June 28th, 2024, Integrated System Credit Consulting Fintech SpA (the “Company” or “ISCC Fintech”), a company active in Italy in the business of purchasing so-called granular portfolios of non-performing loans (otherwise known as NPL receivables) from financial institutions, regulated companies providing goods or services (telephony, gas, electricity), special purpose vehicles and financial companies pursuant to Art. 106 T.U.B. and in the activity of management and recovery of the same (so-called “Credit Management” activities), announced to have finalized five deals for the sale of a portfolio of NPL credits for a total GBV of about € 20.20 million, at a price higher than the book value.
These sales, together with the deals announced on June 12th, help strengthen ISCC Fintech’s position within the nonperforming loan market. The Company, is moving forward positively with its business plan, continuing to successfully pursue the growth strategy designated by management.
Taking the press release into consideration, we confirm our recommendation: target price € 7.05, rating BUY and risk MEDIUM.