Farmacosmo’s €75.3 Million IPO

Orrick, BDO Tax & Legal, First Tax & Legal, Avvocato Gaeta and SAPG Legal advised Farmacosmo on the deal while illimity Bank S.p.A. was represented by Gianni & Origoni.

Farmacosmo, an Italian e-commerce company active  the sale of health, pharma & beauty products, announced the admission to trading of its ordinary shares and warrants on Euronext Growth Milan, a multilateral trading system organized and managed by Borsa Italiana S.p.A.

The transaction was carried out by an institutional placement reserved for professional Italian and foreign institutional investors (excluding the United States, Australia, Canada and Japan and any other jurisdiction in which an institutional placement is subject to restrictions), with a total demand amounting to approximately 2.5 times the amount offered in Farmacosmo’s capital increase. The placement price of the shares was set at €2.25 each, with an expected market capitalization of the company at the start of trading of approximately €75.3 million and an expected free float of 26.57% (30.55% assuming full exercise of the greenshoe option).

The Orrick team was led by Patrizio Messina (Picture), coordinated by partner Paola Barometro for the corporate aspects and of counsel Nicolò Del Dottore for the financial markets legal aspects, and including managing associate Pietro Fazzini, associate Alessandro Azzolini and trainees Edoardo Pea and Andrea di Paola. Edward Dyson provided international capital markets advice.

The Gianni & Origoni team included Alessandro Merenda and Giovanni Tatone.

The BDO Italia team included Manuel Coppola, Vito De Laurentis, Antonio Mirabello, Filippo Genna, Salvatore Apolito and Carlo Luison.

The FIRST Tax & Legal team included Giuseppe Livigni, Giuseppe Puttini, Mario Landolfi, Michele di Dato, Antonio Di Falco and Massimiliano Ciraolo.

The Avvocato Gaeta team was led by Maurizio De Martino while the SAPG Legal team was led by Raffaele de Stefano and Francesco Sibilla.

 

Involved fees earner: Maurizio De Martino – Avvocato Gaeta; Manuel Coppola – BDO Tax & Legal; Vito De Laurentis – BDO Tax & Legal; Filippo Genna – BDO Tax & Legal; Antonio Mirabello – BDO Tax & Legal; Massimiliano Ciraolo – Ciraolo Studio ; Michele Di Dato – First Tax & Legal; Antonio Di Falco – First Tax & Legal; Mario Landolfi – First Tax & Legal; Giuseppe Livigni – First Tax & Legal; Giuseppe Puttini – First Tax & Legal; Alessandro Merenda – Gianni & Origoni; Giovanni Tatone – Gianni & Origoni; Alessandro Azzolini – Orrick Herrington & Sutcliffe LLP; Paola Barometro – Orrick Herrington & Sutcliffe LLP; Nicolò Del Dottore – Orrick Herrington & Sutcliffe LLP; Andrea Di Paola – Orrick Herrington & Sutcliffe LLP; Pietro Fazzini – Orrick Herrington & Sutcliffe LLP; Patrizio Messina – Orrick Herrington & Sutcliffe LLP; Edoardo Pea – Orrick Herrington & Sutcliffe LLP; Raffaele de Stefano – SAPG Legal; Francesco Sibilla – SAPG Legal;

Law Firms: Avvocato Gaeta; BDO Tax & Legal; Ciraolo Studio ; First Tax & Legal; Gianni & Origoni; Orrick Herrington & Sutcliffe LLP; SAPG Legal;

Clients: Farmacosmo; illimity Bank S.p.A.;

Sonia Carcano

Author: Sonia Carcano