Investment fund NEOM to hold 6% in Italy's Technogym

Technogym

01/12/2023 08:11

ROME, Dec 1 (Reuters) - Investment fund NEOM will hold
6% of Technogym  TGYM.MI  through its subsidiary NIF holding
after an 111-million-euro ($121.07 million) investment and
intends to be a long-term minority shareholder in the Italian
fitness-equipment maker, JP Morgan said on Friday.
    In a reverse accelerated bookbuilding (RABB) operation on
Thursday, NEOM bought 8.8 million shares at 9.20 euros
($10.03)each from other investors and entered a derivate
solution for the purchase of a further 3.3 million ordinary
shares, the statement said. 
    The move does not entail any share dilution for the other
shareholders of the company. 
    "NIF believes in the value creation potential of Technogym
given the company's history of steady growth and leading market
position globally," the statement added. 
    JP Morgan acted as sole bookrunner for the transaction.
    Technogym shares jumped 9% to 8.71 euros at Friday's
opening.

    
($1 = 0.9168 euros)


($1 = 0.9177 euros)

 (Reporting by Giulia Segreti, editing by Gianluca Semeraro and
Tomasz Janowski)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))