(Alliance News) - Riba Mundo Tecnología SA landed Friday on the Stock Exchange after a EUR5.3 million IPO that, if the over-allotment is exercised in full, would rise to EUR5.5 million.

The free float is 13 percent and the market capitalization is EUR40 million.

Riba Mundo Tecnología is a technology company under Spanish law, founded in September 2018, active in the trading of consumer electronics in the B2B segment internationally. Riba Mundo uses its proprietary Marvin software to achieve the optimization of buying and selling processes, the generation of demand forecasts and the efficiency of consumer goods inventory management, according to modern data driven criteria. Riba Mundo is operational in more than 45 countries.

Marco Dezi, CEO of Riba Mundo Tecnología, said, "The debut on Euronext Growth Milan represents an important step for us to enhance who we are and accompany our continued growth. We still have important margins for developing our business and more and more companies are turning to us to improve their distribution policy in the territory."

"The listing has the potential to project Riba Mundo Tecnología toward ambitious goals that we have been setting for some time: to commercialize new product categories, to enter new and profitable markets with our business model, and to strengthen the supply chain, including through M&A operations that allow us to better optimize the global vision of the market. We are a technology company formed by people who put all their passion into achieving our goals every day."

Riba Mundo Tecnología's stock is not yet affected by trades.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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