Equita assisted Estrima with its IPO on Euronext Growth Milan

Another successful admission on the Euronext Growth Milan: Estrima, assisted by Equita as Sole Global Coordinator, Bookrunner and Euronext Growth Advisor, will debut on the market next 20 December 2021
Equita assisted Estrima IPO

Milan, 17 December 2021 – Estrima – the Italian company active in the electric micro-mobility sector, known for the production and distribution of Birò, the smallest four-wheeled electric vehicle for transporting two people – announced to have successfully completed its IPO process on Euronext Growth Milan.

The institutional placement led Estrima to raise 15 million euro of new capital – resources that will finance the organic growth through expansion in main European cities. The share was priced 3.50 euro. Estrima will debut with a market capitalisation of 50 million euro and the free float will amount to 30%.

The ECM team of Equita and its trading floor assisted Estrima as Sole Global Coordinator, Bookrunner and Euronext Growth Advisor. The IPO represents the fifth offering completed successfully by Equita in 2021 on Euronext Growth Milan. Notwithstanding the significant year-end investor fatigue across all relevant markets and asset classes, in addition to the macro uncertainties due to the Omicron virus strain, Equita successfully concluded the IPO of an early-stage issuer in urban smart mobility and electrification fields, with an important allocation skewed toward top-quality, long only investors.

This transaction further underscores Equita’s role as leading ECM franchise in Italy and rewards the intense, strong year experienced by the team. In 2021 Equita confirmed its #1 position as ECM franchise in Italy, both in terms of total transaction volumes and number of deals: 12 cash equity deals were successfully completed through a unique mix of IPOs, SPACs, ABBs, Reverse ABBs and Rights Issues, in addition to 5 public M&A deals (ASTM, Creval, Guala Closures, Carraro, Cattolica).

Since 2008, Estrima has invested in R&D, planning, design, production and distribution of electric vehicles through the brand Birò, one of the leading player in the urban smart mobility sector.