The fund added in a statement on Friday that it had purchased 8.8 million shares at a price of 9.20 euros per share from other investors, in addition to seeking to buy 3.3 million ordinary shares in the form of financial derivatives.
Technogym shares rose 6.1 percent to 8.48 euros per share by 11:50 GMT, after closing yesterday, Thursday, at 7.99 euros per share.
The price paid by the fund represents a 15 percent premium compared to the closing price of the company’s shares yesterday, Thursday.
Rome and Riyadh signed an agreement in September to strengthen economic relations and increase investments, focusing on areas such as energy, sustainability, supply chains and sports.
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