The Vicenza leather company prepares the application for admission to Piazza Affari. Listing expected by July on Egm. In 2021 the group achieved revenues of 49.7 million, three quarters of which abroad
GM Leather is ready for the stock exchange. According to MF-Milano Finanza, the Vicenza leather company is preparing to submit an application for admission to Piazza Affari. The request should arrive in the next few days with the aim of landing on the Euronext Growth Milan (Egm) market in the coming weeks, in any case by July.
Founded in 1976 by the Marcigaglia family, GM Leather is an SME with a strong international vocation. The company is based in Arzignano, in the largest Italian tanning district. It operates through a production plant of about 15,000 square meters, where 3 million square meters of hides are processed every year. GM Leather and the 100% subsidiary Snam are involved in the procurement of raw materials and the marketing of both the raw material and the finished product. Another subsidiary, Genesi, instead oversees the production chain, dealing with the processes with greater added value and necessary for customization. Lastly, the group takes advantage of the historical relationships with some partners active in the district for more standardized production activities.
GM Leather’s customer base ranges from furniture to leather goods, from fashion to automotive. Last year the group chaired by Carmen Marcigaglia achieved revenues of 49.7 million euros, 76.2% of which generated abroad and 23.8% in Italy. If the ipo goes through, the proceeds will be used to consolidate and expand the company’s presence on international markets, as well as to expand the product range.
According to rumors, GM Leather is assisted in the admission procedure as Euronext growth advisor and global coordinator by Integrae sim, in its fourth operation of the year on Egm.
Unlike the main market, penalized by economic and political uncertainty, the one dedicated to SMEs is in turmoil. Today the bell of Piazza Affari Solidworld, specialized in the digitization of factories, will ring. The arrival of Pozzi Milano, active in table fashion and owner of the Pozzi and Castello Pozzi brands, is expected shortly. And other quotes are expected in the coming weeks.