Santarcangelo di Romagna, July 11, 2023 - Maggioli S.p.A. (the “Company”) and the selling shareholder, Pacri S.r.l. hereby announce that they have decided, in consultation with the joint global coordinators, Mediobanca - Banca di Credito Finanziario S.p.A. and Intesa Sanpaolo S.p.A. - IMI Corporate & Investment Banking, to terminate the offering of the Company’s ordinary shares on Euronext Growth Milan, a multilateral trading facility operated and managed by Borsa Italiana S.p.A.
Notwithstanding the investors’ appreciation for the Company, and even considering the quality and number of subscriptions received, the adverse conditions of the domestic and international financial markets did not allow for a satisfactory valuation of the Company. As a result, the Company and the selling shareholder, Pacri S.r.l. believe, in agreement with the joint global coordinators Mediobanca and Intesa Sanpaolo, that the conditions for a transaction that would reflect the Company’s inherent value as of today have not been met.
Maggioli will remain focused on pursuing its growth objectives by further strengthening its competitive position in Italy and continuing its international expansion strategy.