Fifth IPO of 2021 on Euronext Milan
Ariston Group brings the total number of companies listed on Euronext Milan to 234
The company raised €915 million
Milan – 26 November 2021 – Borsa Italiana, part of the Euronext Group, today congratulates Ariston Group on its listing on Euronext Milan.
Ariston Group represents the fifth listing since the beginning of the year on Euronext Milan and it brings the total number of firms currently listed on Euronext Milan to 234.
In the placement phase, Ariston Group raised €802 million, excluding the potential exercise of an over-allotment option. In the case of full exercise of the over-allotment option, the total amount raised will be €915 million. The implicit valuation indicated by the company, taking into account the various categories of shares, is €3.375 billion.
Paolo Merloni, Executive Chairman of Ariston Group, said: “Today’s listing is an important step for Ariston Group, which capitalises on more than 90 years of history. It is an endorsement of the constant effort, professionalism and passion of our people, which made this achievement possible. The high quality of long-only investors is a testament to the attractiveness of Ariston Group’s mission – sustainable comfort for everyone – and the critical role that the sector, and Ariston, could play in the energy transition. As a listed company, we believe we will be able to fully capitalise on growth opportunities, continuing to complement our strong organic growth with value-accretive acquisitions. Our objective is to continue to be a preeminent global provider of sustainable comfort solutions in hot water and heating, with renewed ambition post IPO.”
Caption: Paolo Merloni, Executive Chairman of Ariston Group, rang the bell during the market open ceremony this morning to celebrate the Initial Public Offering of the company.
About Ariston Group Ariston Group is a global leader in renewable and high efficiency solutions for hot water and space heating, components and burners. For the 12 months ended 30 September 2021 (9M 2021 LTM), the Group reported revenues of € 1.95 billion. It has approximately 7,700 employees, representative offices in 42 countries, 23 production sites and 25 research and development centres on 4 continents, and offers solutions and services in approximately 150 countries around the world. The Group offers a full range of products, solutions and services mainly under the global brands Ariston and ELCO, and operates under iconic local brands such as Calorex, NTI, HTP, Chaffoteaux, ATAG, Racold as well as Thermowatt and Ecoflam in the component and burner business. Ariston Group demonstrates its commitment to sustainability through the development of renewable and high efficiency solutions, such as heat pumps, water heating heat pump, hybrid solutions and solar thermal systems. The Group also stands out for its continuous investment in technological innovation, digitalisation and advanced connectivity systems.