(Alliance News) - SYS-DAT Spa landed Tuesday on Euronext STAR Milan after a EUR33.6 million IPO, excluding the potential exercise of the over-allotment option.

If the over-allotment option is fully exercised, the total amount raised will be EUR36.9 million. The free float at the time of admission is 35.1 percent and the market capitalization at IPO is EUR103 million or EUR106.4 million assuming full exercise of the over-allotment option.

SYS-DAT is a leading Italian operator specializing in the Information and Communication Technology sector. The company is highly innovative and offers highly innovative, comprehensive and integrated IT solutions to its customers throughout Italy and abroad and for different market sectors.

SYS-DAT represents the ninth admission to the markets of the Italian Stock Exchange and gains access to Euronext STAR Milan, the segment that values small and medium-sized companies with characteristics of excellence. It is the 25th listing in 2024 on Euronext.

Emanuele Angelidis, vice president of SYS-DAT, said, "The landing on the Italian Stock Exchange represents an important step for SYS-DAT that we are ready to take full advantage of. After having pursued, in recent years, a strategy of organic growth and acquisitions, carried out with internal resources, opening the capital to new investors becomes the natural evolution for a company that is growing very fast compared to its reference market."

"The ICT sector has seen growth around 8 percent in recent years while SYS-DAT has recorded a 2021-2023 CAGR on revenues of more than 26 percent, with 2023 consolidated revenues exceeding EUR46 million. The funds raised will be used, in addition to implementing organic growth, to further fuel the M&A strategy, with the goal of offering our customers increasingly advanced software solutions tailored to all kinds of needs, so as to diversify the business and generate value for shareholders. Special thanks go to all the advisors who have accompanied us on this journey and to the entire SYS-DAT team for their commitment and dedication."

SYS-DAT's stock is up 6.8 percent at EUR3.631 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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