(Alliance News) - Eligo Spa announced Friday that the board has decided to initiate a EUR997,920 capital increase, which will take place through the issuance of 356,400 new shares at a price of EUR2.80 each.

The new shares are to be offered and reserved for subscription, with the exclusion of pre-emptive rights, to the professional investor BRB Holding Srl, a holding company with holdings in companies active in various fields, "which will be able to bring to the Eligo Group significant financial resources to be used in the company's business and in the pursuit of its growth and development strategy," the company explained.

Following the transaction, BRB Holding will hold 5.7 percent of Eligo's capital, whose main shareholder will remain Eligo Technologies Srl with 56 percent while there is 2.3 percent in the market.

Naomi Kohashi, CEO of Eligo, commented, "This transaction is a source of great joy for me and our entire team; thanks to the new support obtained, we will have more resources to invest in the implementation of our strategic business development guidelines."

Eligo's stock closed Friday unchanged at EUR2.34 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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