18th listing of 2022 on Euronext Growth Milan
FAE Technology S.p.A. brings the total number of companies listed on Euronext Growth Milan to 184
Total placement volume of the offering equal to €5 million
Milan – 11 November 2022 – Borsa Italiana, part of the Euronext Group, today congratulates FAE Technology S.p.A. on its listing on Euronext Growth Milan.
FAE Technology S.p.A., an Italian benefit corporation, specialises in design, development, industrial engineering, prototyping, and in providing solutions to the integrated electronics sector. The company, through a range of dedicated and integrated assets, enables rapid electronic innovation.
FAE Technology S.p.A. represents the 18th listing since the beginning of the year 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 184.
In the placement phase, FAE Technology S.p.A. raised €4.5 million. In the case of the full exercise of the over-allotment option, the total amount raised will be €5 million. The free float at the time of admission was 20% and the market capitalisation at IPO was €22.5 million.
Gianmarco Lanza, CEO of FAE Technology S.p.A., said: “We have achieved this key milestone for our company having grown strongly for many years on the electronics market. We are proud of our listing on Euronext Growth Milan. It is however not the end goal, but rather a new beginning for our organisation and our workforce and opens up exciting new opportunities. The capital raised in fact boosts and speeds up our work and investment in technology, R&D and know-how. We are focused not only on expanding our production capacity, but also on providing the best possible solutions to our customers and partners in enabling electronic technology”.
Caption Gianmarco Lanza, CEO of FAE Technology S.p.A., rang the bell during the market open ceremony this morning to celebrate the Initial Public Offering of the company.
About FAE Technology S.p.A FAE Technology S.p.A. - Benefit Company, an innovative SME, specialises in design, development, industrial engineering and prototyping, and in providing solutions to the integrated electronics sector. Founded in 1990 in Gazzaniga (BG) by Francesco Lanza, who began by producing a small series of electronic boards, the Company has been led since 2008 by his son Gianmarco Lanza, Chairperson and Chief Executive Officer. FAE Technology, through several dedicated and integrated assets, can very rapidly enable electronic innovation in the various sectors in which it plays a central role, including e-mobility, the Internet of things (IoT), industrial automation 4.0 and aerospace. FAE Technology is known for its focus on innovation - promoting open innovation and shared research at the “Kilometro Rosso” hub - and on sustainability and corporate social responsibility, becoming a Benefit Company on May 13, 2022. The company benefits from strategic partnerships and memberships with major sector players, in addition to renowned universities and research centers, including the "Senseable City Lab" at MIT (Massachusetts Institute of Technology) in Boston. FAE Technology is fast-growing - reporting revenues of Euro 23.9 million in 2021 (+65.1% on 2020). H1 2022 revenues totaled Euro 17.4 million (+63.4% on H1 2021).