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Italy: Savino Del Bene group on the Stock Market

The transport world gets closer to investors. On 18th November 2013, the Initial Public Offering of the Savino Del Bene company started, with prices ranging from €2.55 and 3.10 per share. The entrance on Milan’s Stock Market will take place on December 6th.

It is not exactly a debut, because the group tried to enter the financial market twice before, though unsuccessfully. Now, after ten years, it will try again for the third time, with the objective of collecting enough capital to expand at an International level. “We want exposure and we want to be competitive. As for Italy, we want to maintain our position and improve it if possible,” explained chairman Paolo Nocentini.

Regarding the proceeds, he said that, “we invest in people, who are increasing in our network. We aim at expanding in new countries and strengthening our position where we are already available.”

The Savino Del Bene group has 2,700 employees and around 200 branches in 45 countries all over the world. It is one of the few Italian companies that can be compared to the multinationals of the sector and also one of the few transport operators that decided to enter the Stock Market (one of these was the Premuda shipping company located in Genoa).

Revenues in 2012 were of €985.34 million, an increase with respect of the €864.92 million of 2011. Las year, the EBIT was of €35.84 million, lower than the €37.88 million of 2011.

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