A year to forget 2022 for the Milan Stock Exchange with farewell to 11 companies that will soon join it Atlanta. Alpha chartAnd the Benetton family car and trunk Black stoneIt has passed 90% of Atlantia’s share capital and will therefore be able to proceed with the delisting process.
This was stated in a note from Schema Alfa, specifying that during the reopening of the terms that began on November 21 and until the end of yesterday’s negotiations, 21,541,392 shares (equivalent to 2.609% of the capital) were brought in for the approval of the offer. The reopening period ends tomorrow. The share shall be added to the 87.354% of the share capital held by the bidder and 0.824% of the treasury shares. “Schema Alfa indicates that the offer is aimed at obtaining a delisting, which we intend to implement as soon as possible in the following weeks,” the note confirms.
From Exor to Atlantia: Those Who Left the Stock Exchange
Before Atlantia was AD Exora holding company of the Agnelli family, for transfer to the Amsterdam Stock Exchange. autogrill It is expected to be delisted after merging with Switzerland DufreyWhile the fate of the shoe factory Todd It remains uncertain after the failed takeover attempt by the major shareholder.
also CNH Industrialwhose shares are listed in both Milan and New York, is considering ending the dual listing and focusing on the New York Stock Exchange.
Reasons to escape from Piazza Avari
Therefore, the number of companies deposited in the Italian market increases, and there are concerns about its stability. In fact, the dearth of citations in Italy is a perpetual problem. For the past 20 years, it has been the main market 268 listed companies lost and gained only 185According to research by Intermonte published last March.
He adds that the fact that there are relatively few publicly traded companies has its roots in the country’s history Andrea Beltratti, Professor of Political Economy at Bocconi University in Milan. According to Beltratti, Italy does not have a long tradition of equity financing and its economy has been relatively weak over the past 20 years.
The strong presence of banks and other financial intermediaries in Italy has replaced the role of markets, so companies have often preferred to ask them for financing. The advantages of listing are the ease of raising capital and reputation (location), but there are also costs associated Regulationto need Transparency And to many Interactions with investorsBeltratti said. “I don’t think these problems can be solved in months or even years, because it is a problem cultural issueBeltratti concluded.
Finally, to register, it must be emphasized that if 12 companies leave Piazza Affari, four companies are the new entries nIn the main market of Euronext Milanoincluding the truck manufacturer iveco, as a result of the break-up and two other companies moved from the smaller Euronext Growth Milan. The situation is more correct for the same Euronext Milan growthIt is a marketplace dedicated to small and medium-sized businesses with minimal entry requirements. In 2022 it is calculated 18 new quotes, But the total market value is still very low.