Icop gets off to a positive start on the main market following its surge on the EGM
The share price started flat but then picked up. Over the two years on Euronext Growth Milan, its value has increased fivefold
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(Il Sole 24 Ore Radiocor) - Icop has made a positive debut on Borsa Italiana’s main market following two years of listing on Euronext Growth Milan. After a subdued (flat) start, shares in the ground engineering company , controlled by the Petrucco family , picked up momentum, posting a gain of over 2 per cent (around the midway point of the trading session).
The uplisting represents a “important milestone in the growth journey” for Icop, which since 2024 has seen its share price rise by 400 per cent, alongside a 500 per cent increase in EBITDA, emphasises CEO Piero Petrucco. Since the IPO, “we have expanded in scale, but also increased our penetration of the international market”, adds Petrucco, describing the targets of the recently approved 2026–2029 business plan as “ambitious yet realistic”. The plan envisages organic growth of up to €900–950 million and EBITDA of up to €170 million, but “we are not ruling out the possibility of continuing to seize opportunities for inorganic growth as well”.
Meanwhile, on 14 September, the acceptance period for the full public exchange offer for Trevi launched last June, with a consideration of 0.133 new Icop ordinary shares for each Trevi share. “We have structured the public takeover bid as an industrial operation” with the ambition of creating a “national leader in underground engineering and becoming one of the world’s leading players. “We believe in it, and we are working to ensure that this project is fully understood by the market too,” explains Petrucco, describing it as “a very robust operation”.
