(Alliance News) - Palingeo Spa made its debut among the SMEs in Piazza Affari on Friday after a EUR7.4 million IPO.

The company, founded in 1999 in Brescia, is active in geotechnics. It operates in the field of special foundations offering services to leading operators in the civil and infrastructure construction sector, and to industrial or public administration operators.

IN the event of full exercise of the over-allotment, the collection would rise to EUR8.1 million.

Leonardo Spada, president of Palingeo, commented, "The listing on Euronext Growth Milan of Palingeo represents a significant moment for our company, offering us a unique opportunity to consolidate our presence and expand in the market. The strong confidence shown by investors in our project and business model, focused on technological innovation and sustainability in the geotechnical and geognostic sector, is extremely important."

"We believe that the success of this listing is a direct result of our team's proven track record. We are determined to meet future challenges with the goal of maintaining steady growth and generating value for shareholders."

Palingeo's stock is up 9.7 percent at EUR5.4860 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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