(Alliance News) - International Care Company Spa announced Friday that controlling shareholder FD Holding Spa and its direct and indirect controlling shareholders have entered into an agreement with Intesa Sanpaolo Vita Spa aimed at the latter's entry into the share capital of International Care Company.

The transaction, aimed at accelerating the company's growth process, provides for a share capital increase with the exclusion of pre-emptive rights, reserved for Intesa Sanpaolo Vita for an amount including share premium equal to a maximum of EUR500,507.7, through the issuance of 238,337 new ordinary shares at a subscription price of EUR2.10 per share, of which EUR1.14 is share capital and EUR0.96 is share premium.

The transaction also includes a sale and purchase of International Care Company shares between FD Holding and Intesa Sanpaolo Vita: FD Holding will sell 238,338 ordinary shares of International Care Company to Intesa at the same price of EUR2.10 per share.

The subscription of the capital increase by the company and the execution of the transaction will be in substantially simultaneous and will result in the insurance company acquiring 476,675 ordinary shares of International Care Company, corresponding to approximately 10 percent of the post-money share capital.

The transaction will enable the company, which is also listed on Euronext Growth Milan, to raise new financial resources to be used in the pursuit of its business and its related growth and development strategy, as well as to enjoy the foreseeable industrial and commercial partnership, through the entry of a leading strategic partner such as Intesa Sanpaolo Vita, the Italian leader in bancassurance and supplementary pension plans, into the shareholder structure.

The transaction is expected to close in the third quarter of this year.

"Today is another important page in the history and growth process of International Care Company," commented Gualtiero Ventura, president and CEO of International Care Company. "We collaborate with a large number of leading players and this certainly creates a lot of satisfaction for us, but the willingness of an industry leader such as Intesa Sanpaolo Vita to invest in us makes us extremely proud and even more aware of the work done so far and the enormous potential of our reality.

"The new capital available and, above all, the possibility of being able to work closely with the Company will result in a further acceleration not only for our growth and development plans, but also to consolidate our competitive advantage, continuing to invest strongly in the combination of technological innovation and human relations."

International Care Company's stock is up 11 percent to EUR1.46 per share.

By Chiara Bruschi, Alliance News reporter

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