Campari shares start trading
Milan, 6 July 2001 - "The temporary downturn in the market prevented the stock from realising its full potential," commented Marco Perelli Cippo, managing director of DAVIDE CAMPARI - Milano S.p.A,. "But we are confident that the market will recognise the value of a world-famous brand and the soundness of the business plan that has made the Campari group one of the world's leading beverage players."
Shares began trading at 31 euros and, after reaching a maximum of 31.20, ended the session at an official price of 30.69 and a reference price of 29.88. A total of nearly three million shares were traded with a total turnover of around Euro 90 million.
Deutsche Bank and UBS Warburg were joint global co-ordinators for the offer and also acted as joint lead managers and bookrunners for the private placement; IntesaBCI was sponsor and lead manager for the public offering.
In 2000 Campari consolidated net sales were Euro 434 million with a 19% increase on 1999. EBITDA, at Euro 105 million, accounted for. 24% of consolidated net sales.