U‑Power begins IPO

U-Power, a European leader in the design of items intended for protection and safety in the work environment, has designed and manufactured a wide range of products suitable for every profession, able to meet the most demanding and extreme demands on the national and international market. Products in the accident prevention world under the U-Power brand are designed to offer the user maximum comfort and safety in the work environment.

Today thecompany intends to list on the Mta market of the Stock Exchange with an offering, reserved for institutional investors, covering up to 35 percent of the company's capital (as planned for the Star segment), without a capital increase and is expected to be completed by next July. The group, led by Pier Franco Uzzeni (pictured), reported revenues in 2020 of 172.5 million euros and a gross operating margin (Ebitda) of 42.7 million thanks to the sale of 4.5 million pairs of safety footwear.

"With the listing on Piazza Affari, U-Power Group aims to obtain greater visibility on the reference market and increase its ability to access the capital market with a potential improvement in the development opportunities of its activities," stresses Pier Franco Uzzeni, who we reached by telephone. "The procedure is still in the development phase and awaiting clearance from Consob, but we reasonably expect to be on the stock market in July.

There are several reasons related to this operation; on the one hand, the company has reached a really significant growth phase with significant size and, above all, considerable leadership in the sector in which it operates.

So this listing fits perfectly with the desire on the part of the company to begin a new path of development by opening its capital to other shareholders who can accompany it in this new phase of consolidating its leadership in the markets where it is present and in expanding into other markets where growth potential exists.
Last but not least, in my opinion, we have to consider that Michela and I have three children, two of whom are already in the company, and this process can give the company such a structure that our children will be able to decide whether to continue the family's entrepreneurial experience or maintain a shareholder presence by leveraging the excellent management that is already present in the company."

Article source: Ferrutensil Professional

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