Alia Mentis surges 35% on its debut on Euronext Growth
The company was listed on the Milan Stock Exchange with an initial market capitalisation of 100 million euros, having raised around 35 million.
by R.Fi.
Key points
Alia Mentis, a Veneto-based deep-tech company specialising in innovative materials, saw its share price surge by 35.31% on the day of its debut on the Piazza Affari on Euronext Growth Milan. During the inaugural event – the customary ‘ring the bell’ ceremony at Palazzo Mezzanotte – the Borsa Italiana team announced that the company’s share price was not being quoted during early trading due to excessive gains.
A launch that highlights the markets’ interest, about which “we are delighted”, commented Giuseppe Paronetto, chairman of Alia Mentis, in an immediate reaction on Radiocor. “This is the reward for 14 years spent behind the scenes waiting to be recognised, ready as a turnkey industrial solution; this is the response we were expecting.”
The placement, reserved for Italian and foreign institutional investors, attracted demand more than three times the amount on offer. The transaction involved approximately 10.7 million shares, including the exercise of the greenshoe option as part of the capital increase. This therefore amounts to approximately 30.7 million shares, representing an initial market capitalisation of 100 million. The free float stands at 35 per cent, including the greenshoe option. Specifically, Paronetto-Daniel (a wholly-owned subsidiary of Alia Mentis’s chairman, Giuseppe Paronetto) holds 65 per cent of the share capital, and Axon Partners Group holds 8 per cent.
The company
Founded in 2012, Alia Mentis has developed a portfolio of proprietary intellectual property, distinctive technical expertise and specific technological solutions, comprising over 20 patents, and operates in sectors such as the automotive industry, sport, aerospace and defence, with a growing focus on high-growth segments such as hypercars and drones. In 2025, the company achieved a production value of approximately €15 million (+86% on 2024) with an EBITDA of €8.5 million (EBITDA margin of approximately 58%). Net debt as at 31 December 2025 stood at 17 million euros.
Alia Mentis is currently wholly owned by Paronetto Daniel Srl, which in turn is wholly owned by Giuseppe Paronetto. The planned IPO envisages raising funds entirely through a capital increase, with a free float of up to 35% following the transaction. The proceeds from the transaction will be used to support growth through a strategy involving expansion into new emerging end markets, such as IT infrastructure and data centres; expansion into new geographical areas (the North American market); and partnerships and joint ventures with industry players that would enable the company to broaden its product offering.
