On 23rd September 2020, Mediobanca successfully completed the placement of 240,000 PharmaNutra ordinary shares, corresponding to 2.48% of the Company’s share capital.
The shares were sold by Mr. Andrea Lacorte, Mr. Roberto Lacorte and Mr. Carlo Volpi, top 3 shareholders of PharmaNutra.
The block trade has been priced at €25.30 per share (c. 4.2% discount vs. closing price of €26.40) and the size represented ~ 74x trading days based on L3M ADTV. The shares have been allocated to a top tier 1 European long only fund.
PharmaNutra, currently listed on the AIM Segment, started the process to be listed on the Mercato Telematico Azionario (STAR segment) organized and managed by Borsa Italiana. Mediobanca, acting as Sponsor, is supporting the Company in all the crucial steps of this transaction.
The block trade was extremely important to enhance the free float (reaching the 35% requested by Borsa Italiana) and expand the investor base, creating the conditions to move on the STAR Segment and removing the overhang perceived by the market.