Borsa Italiana: New integrated tools for Italian SMEs capitalization

Borsa Italiana: New integrated tools for Italian SMEs capitalization

24/10/2011

The Ministry of Economy and Finance and Borsa Italiana, in partnership with Banca Europea per gli investimenti, Fondo Italiano d’investimento, and SACE, today present some important initiatives aimed at supporting Italian SMEs.
 
This joint action emphasizes the highest importance assigned to the development of SMEs sector.
 
The common aim is to strengthen SMEs capitalization to facilitate financing of medium and long term projects, dimensional development, internationalization  and competitive skill in the global arena.
 
Find below a summary of the tools announced today in the presence of Gabriele Cappellini, CEO of Fondo Italiano di Investimento, Alessandro Castellano, CEO of SACE, Raffaele Jerusalmi, CEO of Borsa Italiana, Andrea Montanino, General Manager of Ministry of  Economy and Finance and Dario Scannapieco, VP of  Banca europea per gli investimenti :
 

  • The co-investment agreement between Fondo Europeo per gli Invesimenti and Fondo Italiano di Investimento aims to promote SMEs development through the support of venture capital funds dedicated to the growth of SMEs. The agreement provides for an initial allocation of 100 million euros for each institution, with possible future increases. All parties will make an effort both to share information about the research of investment opportunities, as the investigation, financial and planning analysis and the subsequent monitoring. The partnership, as well as pooling the knowledge of Italian market of both the institutional investors, will increase financial resources available to SMEs, also allowing to strengthen the corporate governance of investment funds in which the commitment will be made, creating basis to attract additional capital resources from both international and domestic market.

 

  • ELITE is a project resulting from the collaboration between the Ministry of Economy and Finance and Borsa Italiana. It is a path of organizational and managing development addressed to SMEs that want to growth. It aims to encourage excellence, in the direction of major transparency and management efficiency and to support a cultural approach of enterprises to the financial market. ELITE also gives visibility to companies involved through a web site dedicated to the diffusion of corporate information relevant for the main stakeholders, including institutional investors, business partners and public. In the occasion of the project, Borsa Italiana acts as a tutor of SMEs and aims to stare after them along a personalized and consistent ideal path.

Borsa Italiana and Fondo Italiano d’Investimento signed an agreement aimed to promote ELITE programme and to make SMEs aware of benefits that can be drawn from participating in the programme.  This agreement also provides that Fondo Italiano d’Investimento addresses to ELITE its invested companies (paying the 50% of annual fee for at least three years) and spurs the beneficiary funds of its capitals to address their companies to ELITE.

  • SACE developed a new instrument that will help the strengthening of the financial structure of Italian SMEs, increasing their competitiveness on international markets. The initiative, that provides an initial allocation of 50 million euros, aims at the acquisition and management of major holdings in already listed or at IPO stage SMEs on Italian market with a export-oriented business model preferable. Investments, made through a primary  provider dedicated to SMEs market, have a time horizon of 3-5 years and will be addressed to listed SMEs ( no minimum market capitalization) and listing SMEs on both regulated markets and exchange regulated markets. The targeted SMEs will be able to relay on a stable financial source and on an investment strategy of medium- long period, marked by industrial logic, compatible with the institutional profile of SACE.