(Alliance News) - SYS-DAT Spa reported that trading of its ordinary shares began on Tuesday on the regulated market Euronext Milan, STAR segment, organized and managed by Borsa Italiana Spa.

The shares opened trading at a price of EUR3.70 per share, touched a high of EUR3.85 and closed at EUR3.65, up about 7 percent from the offer price.

At the end of the session, SYS-DAT's capitalization was about EUR111 million.

"The first day of trading was marked by continued demand from

investors, who showed considerable interest and appreciation in the company," the statement read.

Matteo Neuroni, managing director of SYS-DAT, commented, "We are very pleased with the intense IPO journey that led us to this important milestone on the first day of trading, which follows demand of more than three and a half times the base offer with an excellent quality book that includes domestic and international investors of primary standing. The capital we have raised will be used to ensure new momentum and resources for the company to finance our growth strategy both organically and in terms of M&A. We aim to continue the natural path that led us to the listing, establishing ourselves more and more as a key player in the software production market in Italy and beyond. The ICT sector has significant room for improvement, and with today we confirm that we are ready to exploit its

full potential."

By Chiara Bruschi, Alliance News reporter

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