Haiki+ soars and comes close to the price of the takeover bid launched by SG Holding for its delisting

(Il Sole 24 Ore Radiocor) - Haiki+ is soaring on the Milan Stock Exchange and is approaching the €0.90 set as the consideration for the delisting takeover bid launched by Sg Holding, the company’s majority shareholder. Shares in the company, which operates in the environmental services sector and was formed as a spin-off from Innovatec (which remains listed on the Milan Stock Exchange, where it is also rising) is currently rallying.

Taking a closer look at the transaction, Sg Holding – which holds 56.1 per cent of Haiki+’s share capital – has launched a full takeover bid for 59,674,488 of its shares. According to a statement, these comprise 56,663,249 shares, corresponding to a 43.90 per cent stake and constituting the total number of shares in circulation, excluding Sg’s holding, as well as 3,011.239 newly issued shares resulting from the potential exercise of the “Haiki+ 2025–2026 Warrants” during the relevant exercise period between 5 and 30 October 2026. The consideration set for the transaction is €0.90, including dividend, for each share tendered in response to the offer and, compared with the closing price on 6 August (the day prior to the launch of the offer), incorporates a premium of 52.66%. By contrast, compared with the weighted arithmetic average of the prices recorded by Haiki+ shares over the last six months, the premium stands at 66.16 per cent. This percentage has narrowed significantly given the share’s current performance on the stock market. The maximum outlay, in the event of full acceptance of the offer, taking into account the possible full exercise of the warrants, will amount to €53,707,039.20.

According to a statement, the transaction is aimed at delisting Haiki+ from Euronext Growth Milan. In this way, Sg intends to “support and accelerate a medium- to long-term industrial and strategic development project, aimed at strengthening the competitive positioning” of the company, which operates in the environmental services sector, “including through greater managerial and financial flexibility”. Haiki+’s departure from the stock exchange will, in fact, enable the company to “operate within a context and legal framework characterised by greater managerial and organisational flexibility, with faster decision-making and implementation times, to pursue organic and external growth initiatives more effectively, as well as to support international expansion and the evolution of the offering in the core target segments, in line with a medium- to long-term investment horizon’. Last but not least, the statement explains, it will enable “substantial savings in overheads in relation to the direct and indirect costs associated with remaining on the EGM”.