While the company last December pulled the plug on its initial public offering, attributing the decision to the instability of the Italian and international markets, it finalized its listing on the Milan Stock Exchange a few days ahead of the scheduled date, which was June 25.
IEG’s selling partners, Rimini Congressi Srl and Salini Impregilo SpA, released 5.392,349 shares, corresponding to a market capitalization of 114.2 million euros.
With the initial price set at 3.70 euros, Italian Exhibition Group closed the first day of trading up 0.78 percent at 3.73 euros a share.
The IPO was originally promoted by IEG Italian Exhibition Group former vice president Matteo Marzotto, who exited the company last November.
Marzotto was named president of Fiera di Vicenza at the end of December 2013, and during his tenure, he re-launched and revitalized jewelry trade show VicenzaOro by both increasing its international media exposure and introducing the efficient and appealing The Boutique Show format, developed in collaboration with former IEG general director Corrado Facco, who exited the company in May.