BREAKING NEWS – 17.01.2023

In the press release of 13 January 2023, Saccheria F.lli Franceschetti SpA, an Italian leading company in industrial packaging in propylene raffia fabric, listed on the Euronext Growth Milan (EGM) market, announced that Integrae SIM SpA, as Global Coordinator, has fully exercised the greenshoe option, in an increase of capital, granted by the company during the placement of its ordinary shares, for a total of 159,000 ordinary shares.

The admission to listing took place with the placement of a total of 1,600,500 newly issued ordinary shares, at a price of € 1.25 per ordinary share, for a value of approximately € 2.00 million, of which: 1,441,500 new ordinary shares resulting from the capital increase for the IPO transaction and 159,000 ordinary shares resulting from the capital increase for the greenshoe option.

Following the full exercise of the greenshoe option, the free float is equal to 18.08%, and the share capital of Saccheria F.lli Franceschetti SpA, represented by 8,850,500 shares, is held as follows:

• Jack Holding Srl, the family holding company of Luigi Franceschetti, holds 3,625,000 shares (40.96%);
• Victor Srl, the family holding company of Luisa Franceschetti, holds 3,625,000 shares (40.96%);
• The market holds 1,600,500 shares (18.08%).

Considering the press release, we confirm our recommendation: the target price goes from € 3.00 to € 2.94 only because of the increase in the number of shares. Our BUY rating and MEDIUM risk remain unchanged.

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