Italian Small Cap Financial Advisory - Team - Methorios Capital

Leadership AIM Italia IPO listings
Date of listing Listed companies Advisor for listing Specialist Nomad
08/05/2009 Neurosoft N/A Mediobanca S.P.A. Banca Akros
08/05/2009 IKF Natali&Partners Banca Finnat Euramerica Ugf Merchant
01/08/2009 Vrway Mazars Business Advisory SerIntermonte Sim Intermonte Sim
23/12/2009 TBS Group Eidos Partners Intermonte Sim Intermonte Sim
29/12/2009 House Building Inteam Twice Sim Envent
16/03/2010 PMS Ugf Merchant Banca Finnat Euramerica Ugf Merchant
16/03/2010 Poligrafici Printing Methorios Capital Banca Finnat Euramerica Ugf Merchant
23/03/2010 Fintel Energia Group Baldi & Partners Intermonte Sim Intermonte Sim
14/07/2010 Methorios Capital Natali&Partners Banca Finnat Euramerica Intermonte Sim
22/10/2010 Vita Societa Editoriale Envent Banca Finnat Euramerica Ugf Merchant
21/12/2010 First Capital Madison Corporate Finance Intermonte Sim Ugf Merchant
Source: Borsa Italiana
‣ The London Stock Exchange’s acquisition of Borsa Italiana in 2007 set the stage for the AIM market platform to make its
debut in Italy, an MTF (exchange regulated) market that has experienced significant success in London since its launch in 1995.
With its Italian launch (AIM Italia) in December 2008 the market has become the focal point for IPO activity accounting for 11
of the 18 Borsa Italiana listings in 2009 and 2010. This trend is likely to continue into 2011 as there is reportedly a solid backlog
of companies in various phases of the listing process (refer to Methorios study “Multilateral Trading Facilities”).
‣ As shown from above the financial advisors that have been involved in the most IPO’s on the market segment have been the
partnership of Natali & Partners and Methorios Capital, whom have been participated in the listing of 3 companies on the
market. However in terms of investment activity these two companies have active in primary market capital raising for nearly all
listed companies especially in respect to listings performed in 2010.
‣ In regards to Nominated Adviser (Nomad) and Specialist roles, the most prominent entities have been Ugf Merchant (5
listings), Banca Finnat (5 listings) and Intermonte (5 listings). Looking solely Nomad activity on this MTF, Ugf Merchant has
participated p in the smaller company listings on AIM Italia when compared to Intermonte that is the current Nomad of the
larger cap companies: VRWay (market cap € 113 mln); TBS (market cap € 60 mln); Methorios Capital (market cap € 50 mln);
and Fintel Energia (market cap € 42 mln). Intermonte Nomad companies capitalisation tally accounts for 74% of AIM Italia in
comparison to the 18% for Ugf Merchant*.
* Note: Capitalisation figures were calculated using values year end 2010 (market close 30/12/2010) excluding any value for House Building that is currently suspended from trading
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