09/07/2015
LU-VE: A FLYING START TO ITS STOCK MARKET DEBUT
MILAN - A positive debut for LU-VE on AIM, the Italian Stock Market
dedicated to small and medium sized companies, achieved through the
activation of a “business combination” with ISI (Industrial Stars of
Italy) which brought in capital to the sum of 50 million euros.
At
the start of negotiations, Barbara Lunghi, manager of the PMI market of
the Italian Stock Exchange, said: “Welcome, LU-VE! By now, AIM Italia
is confirmed as the list for ambitious companies who are ready to grow.
We are sure that LU-VE will be able to benefit greatly from this move.”
“When
the bell rang, starting the trading of LU-VE stock on the Exchange, I
felt around me the presence of all those who participated, especially at
the beginning 30 years ago, in the building of this lucky venture. The
opening up of capital and access to the Stock Market are the
continuation of the growth which has distinguished us up to now,
following our traditional principles of leadership and passion. This
operation accelerates all the processes which have been under way for
the last four or five years, the time necessary to raise 50 million
euros of free cash flow” explained the President of LU-VE, Iginio
Liberali who, along with the Faggioli family, controls the Group.
“Despite
recent events, we are going through a moment in time which is in some
respects unrepeatable. The decision to go public using the SPAC
mechanism protects us from the turbulence of the markets. We had already
set in motion plans for development and enhancement in Italy, the Czech
Republic, Poland, Russia and China, spread over a five-year timeframe. –
explained Matteo Liberali and Michele Faggioli, respectively CEO and
COO of the Group – Now, the listing of LU-VE makes it possible to speed
up all our programmes for growth. Under previous conditions our Group
generated free cash flow of the order of 11-12 million euros a year:
four or five years would have been necessary to generate this financial
flow for development. Now, we aim to grow internally and externally: in
countries with high potential, through acquisition or setting up new
plants. We are looking at geographical areas where we are less present,
such as Asia-Pacific and America. Turbulence aside, we are convinced
that “Our best days have yet to be lived”.
The Liberali family
owns approximately 54.6% of the capital, the Faggioli family about 19.2%
and the market has roughly 24.5%; the remaining 1.7% of the share
capital is indirectly retained by the promotors of Industrial Stars of
Italy.
At the end of 2014 LU-VE Group had 1,528 employees (624 in
Italy and 904 abroad): 149 more than in 2013. The last financial year
closed with a consolidated turnover of 212 million euros, of which 76%
abroad in over 100 countries.
“Today begins a new chapter of the
history of the company, which now takes on new obligations and in the
future will have to take into account also the demands and requirements
of the investors’ money alongside the “patient” money of the families. –
said the President during the ceremony to mark the Stock Exchange
debut. He underlined with pride that, “the new generations of the
founding families have decided, and this is not always the case, to
continue the work and the passion of their fathers”.
Fabio Liberali
Chief Communications Officer
LU-VE Group
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