Italeaf stock to start trading in Stockholm on Sep 4

Sep 2, 2014 - Cleantech and smart innovation company Italeaf on Monday said it has been admitted to trading and will debut on Stockholm's NASDAQ OMX First North market on September 4, 2014 in what will be the first Italian company to trade its shares in Sweden.

Italeaf, whose main asset is the 54.8% stake in renewables company TerniEnergia (BIT:TER), will start trading at a placement price of EUR 2.50 (USD 3.28) per share, after a capital increase for EUR 2 million, which will bring the total share capital to EUR 17 million.

Italeaf has picked Stockholm for listing its shares because of the leading position of the Scandinavian countries in the cleantech industry, the company said in its listing rationale. Trading in Stockholm will back Italeaf's growth, strategy and funding, it added. Italeaf has also selected Stockholm in order to avoid overlapping with TerniEnergia which is listed on Borsa Italiana, owned by the London Stock Exchange, Italeaf chairman Stefano Neri said. The company targets to create value, extend its shareholder base and raise its brand awareness, Neri added.

Apart from controlling TerniEnergia, Italeaf owns industrial lighting maker GreenLed Industry, commercial and civil drone maker SkyRobotic, and WiSave, which manufactures smart devices for remotely controlling energy consumption.

(EUR 1 = USD 1.312)

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