Today, Piovan, a leading automation solutions provider, started trading on the Milan Stock Exchange following the successful completion of its IPO. UniCredit acted as a Joint Global Coordinator in the transaction.
The bank's strong local presence and long-standing relationship with the client, in conjunction with its first-class distribution facility and partnership with Kepler Cheuvreux, were key to winning the mandate and the successful execution of this benchmark transaction.
Piovan is a further example of investors' commitment towards high-quality stories and management, despite the backdrop of volatile market conditions.
The transaction sees UniCredit confirm its position at the forefront of Italian ECM, having successfully completed seven of nine IPOs on Italian main market since the beginning of 2017 for a total market value of more than EUR 3.7bn.
Gianni Franco Papa, General Manager, UniCredit, said: "We congratulate Piovan and are proud to support Italian excellence in all its forms, from access to capital markets to tailor-made financing solutions, and internationalization processes to growth acceleration paths dedicated to SMEs. With this in mind, we are pleased to announce the recent launch of our UniCredit 4 Growth program. The Piovan deal is the perfect example of what being a pan-European commercial bank with a fully plugged-in CIB concretely means for our clients".
Last Friday, Knorr-Bremse, the leading global manufacturer of braking systems for rail and commercial vehicles, successfully completed its EUR 3.9bn IPO on the Frankfurt Stock Exchange - the transaction marked the largest IPO in which UniCredit has acted as Joint Bookrunner and was substantially oversubscribed at offer price.
Earlier this month, UniCredit acted as Joint Bookrunner in the IPO of Aston Martin Lagonda, the iconic British luxury sports cars manufacturer. The transaction represented the largest ever luxury IPO in Europe and the first ever ECM transaction bookrun by UniCredit in the UK.
Commenting on recent market conditions, Stefania Godoli, Global Head of ECM at UniCredit, added: "Despite heightened volatility, investors are proving to be there for the right equity story. Our recent IPO successes show that we are well-equipped to meet this demand through our first-class distribution platform".