PRESS RELEASE
MYBEST GROUP S.P.A.
STARTS TRADING ON EURONEXT GROWTH
Milan ITALY, 10 September 2018 - MyBest Group s.p.a. (MyBest Group or the Company) (Symbol: ALMBG), an omni-channel saving platform that offers users a free service to compare the rates and services of the main utilities operating in Italy, announces that today its common shares are now trading on Euronext Growth, the trading facility for European SMEs organised and operated by Euronext.
"Today's listing on Euronext Growth represents a significant milestone in the growth of MyBest within a market that offers tremendous growth opportunities. - said Fabio Regolo, CEO and Chairman of MyBest Group - We are extremely happy with the interest shown by investors during the placement process, and we aim to consolidate our leadership in Italy's switching economy, specifically in the electricity and gas sectors. In Italy, at least 30 million utility customers must switch to the free electricity market, and we are ready to give them free advice online, through our network of agents, and by phone to choose the solution that best suits their needs".
The listing process followed an approximately €2.4 million private placement. In addition, the two bonds issued by the Group, totalling €5 million, were entirely converted into equity, resulting in the issue of 1,743,432 new common shares. The listing price amounted to 5.07 euro per share, resulting in a market capitalisation of €33.8 million and a 37% free float.
As part of the admission to trading on Euronext Growth Paris, MyBest Group was assisted by Atout Capital as Listing Sponsor, UBS Corporate Advisory and KT & Partners as Financial Advisors to the Company, and NCTM as Legal Advisor.
Giovanni Vecchio, Director and Italian Representative at Euronext, said: "The company was able to stand out in Italy's switching economy thanks to its peculiar positioning and its sound business model, delivering steady growth in both revenues and profits. The financial performance, the management team, and an adequate structuring of the transaction into multiple steps attracted a large number of high-profile investors, who believed and continue to believe in the company's opportunities. At Euronext, we are certain we can offer the company and investors the best international platform for seizing imminent opportunities in this sector, continuing to finance the growth of the business, and earn adequate returns on the investments made".
The Company's Board of Directors consists of five members, who shall remain in office until the approval of the financial statement for the year ended 31 December 2019. They are: Fabio Regolo (Chairman and Chief Executive Officer); Paul Manfredi (Director); Andrea Bonora (Director;) Daniele Viganò (Director), and Antonello Bonuglia (Director).
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MyBest Group
MyBest Group is an omni-channel "saving platform" allowing users to identify the best offers and the products that best suit their needs. The Group provides users with a free service to compare the prices and products offered by the main utilities operating in Italy in the electricity, gas, and telephone sectors. Over the last 3 years, more than 1 million Italians have saved on their bills thanks to MyBest Group, receiving free and customised advice either by phone or directly at home. MyBest Group was founded in 2003 and ended 2017 with more than €26 million in consolidated revenues, up 7% year-on-year.
For more information:
Be Media - MyBest Press Office
Serena Battiloro
M: +39 3401869091
E: s.battiloro@bemedia.it
Alberto Murer
M: +39 334 6086216
E: a.murer@bemedia.it
Investor Relations
Anna Barbara Assegnati
E: ir@mybestgroup.it
Symbol: ALMBG
ISIN code: IT0005119109
https://www.mybestgroup.it/
Contacts:
MyBest Group S.p.A Atout Capital, Listing Sponsor
Fabio Regolo, CEO & Charmain Cédric Beudin, Managing Partner
Phone: +39 022413441 Phone: +33 1 56 69 61 83
Mail: fabio.regolo@mybestgroup.it Mail: cedric.beudin@atoutcapital.com
Website: Website: http://www.atoutcapital.com/
