Palingeo lists on Euronext Growth Milan

• 2^nd listing of 2024 on Euronext Growth Milan

• 5^th listing on Euronext in 2024

• Total placement volume of the offering equal to €8.1 million

Milan – 16 February 2024 – Borsa Italiana, part of the Euronext Group, today congratulates Palingeo on its listing on Euronext Growth Milan.

The company, founded in 1999 in Brescia, is active in the geotechnics sector with a focus on special foundations, offering services to leading operators in the civil and infrastructure construction sector, industrial operators and public administration.

Palingeo represents the second listing on Borsa Italiana’s market dedicated to small and medium-sized companies and it is the fifth listing of the year on Euronext.

In the placement phase Palingeo raised €7.4 million, excluding the potential exercise of the over-allotment option. In case of full exercise of the over-allotment option, the total amount raised will be approximately €8.1 million.

Leonardo Spada, Chairman of Palingeo, said: "The listing of Palingeo S.p.A. on Euronext Growth Milan represents a significant moment for our company, offering a unique opportunity to consolidate our presence and expand in the market. The strong confidence demonstrated by investors in our project and business model, focused on technological innovation and sustainability in the geotechnical and geognostic sector, is extremely important. We believe that the success of this listing is directly attributable to the proven experience of our team. We are determined to tackle future challenges with the aim of maintaining steady growth and generating value for shareholders.”

Caption: Leonardo Spada, Chairman of Palingeo, rang the bell during the market open ceremony this morning to celebrate the listing of the company.

Palingeo

Palingeo is an Italian company based in Carpenedolo, founded in 1999, specialising in the fields of geotechnics, soil consolidation and geognostics. It was born from the experience of professionals in the sector and has established itself as an Italian leader, offering services such as soil consolidation and sealing, foundation engineering, and land rehabilitation. The company works on commission for private individuals and public bodies, acquiring projects through subcontracts or participating directly in tenders, also in temporary association with other operators. Its presence extends throughout the country, with four local units spread across the provinces of Brescia, Mantua and Messina. Palingeo holds the main industry quality certifications and focuses on specialised construction in the foundation sector, offering geological and infrastructural services. The company is active in the public construction sector, basing its business model on the search, award and execution of contracts through direct or indirect channels. To improve production efficiency, Palingeo has adopted Industry 4.0 technologies on construction sites, enabling remote connection with the Technical Department through dedicated applications and specific portals. The company is focused on technological development to optimise production processes and ensure a high level of professionalism in the services offered. 

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