20thlisting of 2023 on Euronext Growth Milan
Porto Aviation Group brings the total number of companies listed on Euronext Growth Milan to 199
41st listing on Euronext in 2023
Total placement volume of the offering equal to €1.6 million
Milan – 04 August 2023 – Borsa Italiana, part of the Euronext Group, today congratulates Porto Aviation Group on its listing on Euronext Growth Milan.
Porto Aviation Group is an innovative SME active in the aviation industry and in the design, manufacture and production of single-engine aircraft and propellers, covering all stages of the production process. The company, established in 1994, produces the single-engine ultralight aircraft and provides the following activities towards customers: the sale of the aircraft and propellers and the maintenance and optimization of the aircraft.
Porto Aviation Group represents the twenieth listing on Borsa Italiana’s market dedicated to small and medium-sized companies and it brings the total number of firms currently listed on Euronext Growth Milan to 199.
Porto Aviation Group is the forty-first listing of the year on Euronext.
In the placement phase Porto Aviation Group raised €1.6 million. The free float at the time of admission was 15.16% and the market capitalisation at IPO was €10.1 million.
Alberto Rodolfo Porto, Managing Director of Porto Aviation Group said: “The listing on Euronext Growth Milan of Borsa Italiana is, for me and for our entire company, a great opportunity for strengthening and one of the key steps in the direction of growth and development that we have set for ourselves; along with new airplane models and further expansion into international markets.”
Caption: Alberto Rodolfo Porto, Managing Director of Porto Aviation Group, rang the bell during the market open ceremony this morning to celebrate the Initial Public Offering of the company.
Porto Aviation Group S.p.A.
Porto Aviation Group S.p.A. operates in the aviation industry and is active in the design, manufacture and production of single-engine aircraft and propellers, covering all stages of the production process. The Company was established in 1994 and assumed its current corporate structure in 2019, following a name change to Porto Aviation Group. The development of the activities found its grounding in the in-depth expertise in the aviation sector of the current Chairman of the Board of Directors and Chief Executive Officer, Alberto Rodolfo Porto. Porto Aviation Group is characterized, therefore, by a deep knowledge of the sector to which it belongs, based on the synergy between its operating locations and the high level of specialization of its staff, and believes it can provide its customers with a high value-added service calibrated to their specific needs. The Company operates through a single business unit through which it manufactures the single-engine ultralight aircraft named "Risen" and the propellers named "Hydrovario" and provides the following distinct activities to customers: (i) the sale of the aircraft and propellers; and (ii) the maintenance and optimization of the aircraft.