What changes in Seco with Olivetti
Seco lands on the stock exchange and Olivetti (Tim group) reserves 7%, starting an industrial partnership
7.5 million shares.
This is how Olivetti, the company of the Tim group, joins Seco, a company founded 40 years ago in Arezzo, active in the sector of technological innovation and IoT software solutions. Olivetti booked the shares in the context of the Areatine company's IPO, which sold out.
All the details.
THE ENTRANCE OF OLIVETTI
As part of the ongoing public offer, Seco announced that Olivetti has booked the purchase of approximately 7.5 million shares, corresponding to 7% of the post-capital increase share capital.
PARTNERSHIP IS BORN
Booking accepted by the Areatine company, founded by Daniele Conti, now president, and Luciano Secciani, and led, as CEO, by Massimo Mauri.
"Seco has decided to allocate this order in order to initiate a dialogue with Olivetti, with the aim of building an industrial partnership, with particular reference to the development and dissemination of innovative hardware and software technologies and proprietary IoT solutions", writes Seco in a note.
OLIVETTI
Olivetti is an IoT digital farm, controlled by the Tim Group led by CEO Roberto Tundo, who also counts TI Trust Technologies and Way among the subsidiaries .
IPO SECO: SOLD OUT
Among Seco's investors there is not only Olivetti. As reported by Il Sole 24 Ore , the initial public offering of the Areatine company marked "sold out".
LANDING AT PIZZA AFFARI
On April 20, Borsa Italiana approved the admission to listing of its ordinary shares on the MTA.
The landing at the Star in Piazza Affari is set for the first week of May. The capitalization, based on the IPO price range, ie € 3.30 and € 4.15, is between approximately € 353.7 million and approximately € 444.8 million. The offer will have as its object a maximum of 37,773,000 shares deriving from the sale of existing shares and from the capital increase to service the listing.
SECO'S SHAREHOLDERS
Seco is currently controlled by Hse Srl, Dsa Srl, the Italian investment fund, Hcs, Lomarini & Lomarini Consultant and other shareholders.
COLLECTION OF SHAREHOLDERS
The placement will lead, writes the Corriere della Sera , to “net receipts available between 84 and 106 million. The shareholders, the founders and the Italian investment fund (CDP) will collect up to 64 million ”.
ON THE MARKET 40.5%
40.5% of the capital will go to the market. The two founding members will receive "19.5% each, the Italian investment fund just over 7%, Mauri 3.3%". Seco donated a number of shares equivalent to two thousand euros to the more than 400 employees of the group. 7% is reserved for Olivetti.
SECO NUMBERS
The Landing on the Stock Exchange comes after years of record growth. In 2020, the company recorded revenues of 63.47 million euros, an increase compared to the 62.133 million in 2019 and 55.74 million in 2018. The profit amounted to 2.64 million euros, marking a slight increase from 2.43 million in 2019, but down compared to the performance of 2018, when the profit was 3.2 million.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/che-cosa-cambia-in-seco-con-olivetti/ on Tue, 27 Apr 2021 10:19:08 +0000.