IEG is moving back towards the placement price for the 3.4 per cent stake

(Il Sole 24 Ore Radiocor) - Italian Exhibition Group is slipping towards the price of the placement of 3.4 per cent of the share capital carried out the day before by Amber Capital and IEG itself. After failing to set a price at the opening, the share price fell to a low of 13.15 euros. On Tuesday evening, Amber Capital and IEG announced the joint sale, via ABB, of 1.060 million IEG shares (representing 3.4 per cent of the share capital) out of a maximum offering of 1.159 million shares.

The placement price is 13.26 euros per share, representing a discount of around 15 per cent on last night’s closing price. Specifically, Amber sold 914,000 shares (out of 1 million offered) and IEG sold 145,000 shares (out of a maximum of 159,000 treasury shares offered). Following the transaction, Amber holds 7.6 per cent of IEG’s share capital, whilst IEG itself holds 0.6 per cent of its own shares. The aim of the ABB is to increase the free float and thus the liquidity of the share; Amber and IEG have entered into a 12-month lock-up commitment. At the placement prices, according to Equita analysts, IEG would trade at 12 times the 2026–27 adjusted price-to-earnings ratio and 6–5.7 times the 2026–27 enterprise value-to-EBITDA ratio (excluding IFRS 16). Equita has a ‘hold’ rating on the share with a target price of 18 euros.