Novamarine lists on Euronext Growth Milan

• 13^th listing of 2024 on Euronext Growth Milan

• 31^st listing on Euronext in 2024

• The company raised €9 million

• Market capitalisation at IPO is €44.6 million

Milan – 1 August 2024 – Borsa Italiana, part of the Euronext Group, today congratulates Novamarine on its listing on Euronext Growth Milan.

Novamarine, founded in 2008, with operational headquarters in the nautical hub of Olbia (Sardinia), has established itself among the leaders of the nautical sector for the production of recreational boats up to 30 metres.

Novamarine’s listing represents the 13^th listing this year on Euronext Growth Milan, Borsa Italiana’s market for small and medium-sized companies, and it is Euronext’s 31^st listing of this year. 

In the placement phase, Novamarine raised €8.6 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 €9 million. 

The free float at the time of admission is 19.28% (20% assuming full exercise of the over-allotment option), and the market capitalisation at IPO is €44.6 million.

Francesco Pirro, Chairman and CEO of Novamarine, said: “The listing on Borsa Italiana represents an important step for Novamarine. For a long time, this brand was regarded as avantgarde, however, it is now a leader in its market. From 2021 to 2023, Novamarine almost doubled its revenues, thanks to the innovation and the high production capacity of our shipyard, which supported the launch of numerous new boat models. The decision to open the capital to investors was a natural consequence of our aspiration to accelerate our growth. The financial resources will be used to facilitate an increase in production, this includes an upgrade of our shipyard in Sardegna, which is fundamental to match the increasing market demand for our boats. Additionally, we will consolidate Novamarine's presence both in Italy and abroad, we also aim to launch new innovative boat models. We would like to thank the investors who decided to support us, as well as the advisors that accompanied us during this long and intense path to reach the long-awaited goal of listing. Above all, we would like to thank the entire Novamarine team, it is their hard work and dedication that has contributed to the constant growth of the company”.

Caption: Francesco Pirro, CEO and Chairman of Novamarine, rang the bell during the market opening ceremony this morning to celebrate the company’s listing.

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