Italian Innovatec files for listing on Milan stock market

Dec 5, 2013 - Italian renewable energy company Kinexia SpA (BIT:KNX) on Wednesday said its subsidiary Innovatec SpA filed with Milan’s stock market operator Borsa Italiana a pre-admission announcement in view of its initial public offering (IPO).

The shares should be admitted to trading on the AIM Italia market of the Milan Stock Exchange as of December 18, 2013.

In order to back Innovatec’s stock market debut, Kinexia’s board of directors on November 8 decided to propose to the shareholders’ meeting, to be held on December 11 and 12, to approve the distribution of an extraordinary dividend, to be paid partly in cash of EUR 0.01 apiece and partly in Innovatec shares. Such dividend payment would target to raise the floating capital of Innovatec and the trading liquidity of the shares in view of the listing and will be subject to the formal admission to trading of the company on the Milan stock market on the part of Borsa Italiana.

(EUR 1 = USD 1.363)

Choose your newsletter by Renewables Now. Join for free!