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PanariaGroup announces stock market launch

Nov 11, 2004
11/11/04 - The sale of PanariaGroup shares (brands: Panaria, Lea, Cotto d’Este, Fiordo and Magres) has begun November 10 and concluded on 16 November.
The group’s debut on the Star segment is scheduled for 19 November.

These are the concluding stages in the process of stock market flotation undertaken by the group based in Finale Emilia.

The offer concerns a total of 14.4 million PanariaGroup ordinary shares, equivalent to 32% of total share capital.
These comprise 11 million newly issues shares deriving from an increase in capitalisation and 3.4 million shares offered by Finpanaria (an investment company owned by the Mussini family) and Interbanca. The share of capital held by the Mussini family will consequently fall from the current 95% to 64.8%.

The Group expects to close 2004 with a 12% growth in turnover and 15% increase in Ebitda. In the first half of the year the Group reported revenues of 123.38 million euro and value of production of 125 million euro.

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