Salcef to be listed on the Italian AIM stock exchange
06 November 2019
Following the Salcef Group’s business combination with Indstars 3, which took place on October 31st 2019, the leading company in the railway sector will be listed on the Italian stock exchange’s AIM (Alternative Investment Market).
As of 8th November 2019, the Salcef Group ordinary shares will be available on AIM Italia, the small-to-medium-sized companies’ section of the Milan stock exchange managed by Borsa Italiana.
This is an important result for the Salcef Group, made possible thanks to a strongly expansive vision and the business combination with the Industrial Stars of Italy 3 S.p.A. (Indstars 3) SPAC.
The merger with Indstars 3, announced last July and implemented at the end of October, took place on the basis of Salcef’s enterprise value of approximately 326 million euro, equal to 5.2 times the EBITDA of 2018, corresponding to an equity value of 286 million or 9.7 times profits and taking into account a net financial debt of 39.9 million.