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43rd listing on Euronext in 2025
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First SPAC listing on Euronext’s markets in 2025
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The company raised €14 million
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Market capitalisation at IPO is €14.1 million
Milan – 12 August 2025 – Euronext today congratulates Friends on its listing on Euronext Growth Milan.
Friends is a special purpose acquisition company (SPAC) established in Italy with the aim of raising the financial resources necessary and appropriate to carry out an acquisition and/or merger transaction with an operating company, following a process of research and selection.
The SPAC’s mission, sponsored by entrepreneur Bruno Belgioco, is to invest in companies that not only generate sustainable financial returns but also demonstrate a significant positive impact on the communities in which they operate.
Friends’ listing represents Euronext’s 43rd listing of this year, and the first SPAC listing on Euronext’s markets in 2025. In the placement phase, Friends raised €14 million. The market capitalisation at IPO is €14.1 million.
Bruno Belgioco, Founder and Anchor Investor of Friends, said: “With Friends we are bringing to the stock market a project that combines capital and social impact. We have identified target companies operating in sectors worth over €40 billion in Italy, such as sustainable mobility, healthcare and social inclusion, with an approach that measures both financial and social returns. Our commitment is to demonstrate that creating value for investors and generating benefits for the community can coexist and reinforce each other.”