Take off in Borsa, the Apulian clothing and accessories company has landed on the Stock Exchange
Positive debut for Take Off on the price list Euronext Growth Milan: in the stock market debut at the start of the session, the shares scored a 9.49% progress compared to the placement price of 4 euros, then settling 4.27 euros.
In the process of placement has raised 12.5 million euros. The free float at the time of admission is 20% and the market capitalization, at IPO prices, it was 62.5 million. According to what was communicated by the company, the resources collected with the IPO will be used to diversify the geographical presence throughout the national territory, accelerate the process of opening new stores and seize opportunities for growth for M & a.
Take off is present throughout the national territory with 143 stores, of which 26 managed directly and 117 through affiliation agreements. It sells clothing at discounted prices all year round. It closed 2020 with revenues of 21 million euros, an EBITDA of 6.5 million euros and a net profit of 3.8 million euros. The Net Financial Position was cash positive for 1.7 million euros.
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