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6th listing of 2024 on Euronext Growth Milan
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14th listing on Euronext in 2024
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The company raised €57.5 million
Milan – 22 May 2024 – Borsa Italiana, part of the Euronext Group, today congratulates Next Geosolutions on its listing on Euronext Growth Milan.
Next Geosolutions is a leading international contractor providing marine geoscience survey services and offshore construction support services to the energy sector, with a special focus on offshore renewables.
Next Geosolutions represents the sixthlisting on Borsa Italiana’s market for small and medium-sized companies, and it is Euronext’s fourteenth listing of the year.
In the placement phase, the company raised €50 million, excluding the potential exercise of the over-allotment option. In the case of full exercise of the over-allotment option, the total amount raised will be €57.5 million. The free float at admission was 13.45% (16.0% with the full exercise of the over-allotment option) and the market capitalisation at IPO was €290.6 million.
Giovanni Ranieri, CEO of Next Geosolutions, commented: “The listing on Borsa Italiana marks a significant step in NextGeo's growth journey, a natural landing place for a company that since its inception in 2014 has developed into an esteemed reference player in the market in which it operates. Our sector is currently experiencing an important phase of evolution and the listing represents a unique opportunity for us to raise the necessary capital to consolidate our presence in the market and assert ourselves increasingly as global leaders. The funds raised will contribute to financing further new development projects, including M&A operations, which will enable us to be even more competitive on both a national and international scale. The strong confidence shown by investors in our business model and our growth objectives is a powerful incentive that drives us with determination to improve our value chain, to reach new and challenging milestones and to generate value for shareholders."
Caption: Attilio Ievoli, Chairman of Next Geosolutions, rang the bell during the market opening ceremony this morning to celebrate the company’s listing.
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Andrea Monzani (Milan/Rome) Ester Russom (Milan/Rome) |
+39 02 72 42 67 56 |
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About Next Geosolutions
Next Geosolutions (NextGeo) is a leading international contractor providing marine geoscience survey services and offshore construction support services to the energy sector, with a special focus on offshore renewables. Established at the end of 2014 and part of the Marnavi group ‒ the largest Italian shipowner operating globally in the offshore sector ‒ NextGeo offers turnkey survey solutions and support services for the design, engineering and construction of offshore infrastructures, with high quality standards, thanks to a solid know-how in the offshore sector, consolidated over a few decades. With a large fleet of latest generation DP2 class vessels and a multi-ethnic team of over 300 qualified and experienced professionals, NextGeo guarantees a wide range of services ranging from specialised services in the field of marine geophysics and geotechnics, to environmental and archaeological investigations up to the identification and removal of unexploded ordnances (UXOs) as well as offshore construction support services. NextGeo closed FY 2023 with a production value of €148.6 million and a net profit of €29.2 million.