(Alliance News) - Yolo Group Spa announced Wednesday that the capital increase approved by the shareholders' meeting on March 18 was successfully concluded with the subscription of 3.9 million newly issued ordinary shares for a countervalue including share premium of EUR7.0 million.

"The capital increase," reads the company's memo, "found not only significant participation from some of the company's major shareholders, but also strong interest from additional new strategic investors, such as, by way of example, IBL Banca, ARAG, Reale Mutua, Sara Assicurazioni and Smart4Tech, the technology vertical of the Smart Capital group, who participated in the capital increase.

Yolo Group says that "interlocutions are still ongoing with some potential strategic partners aimed at the placement of the remaining shares with respect to the maximum amount of the planned capital increase."

Yolo Group's stock closed Wednesday at par at EUR1.82 per share.

By Chiara Bruschi, Alliance News reporter

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