Veronafiere approaching capital increase: shareholders subscribe 28.6 million euros (of 30 total)

The Italian trade fair system is looking to the future, after having undergone a very bad year in 2020 (over 70% lost in turnover compared to 2019’s almost 1 billion euros in turnover). They will be able to start by resuming in person events beginning June 15th, according to the anti-Covid regulations in effect, and re-launching strategies and investments that Veronafiere, one of the most important Italian Trade Fair players as well as organizing Vinitaly, has done. Vinitaly is the leading Italian Wine Fair, held in Verona, but the Vinitaly galaxy also organizes many events around the world. Veronafiere, led by Maurizio Danese, has practically reached the capital increase, as 28.6 million euros have been subscribed (out of a total 30 million euros) - 95% of the capital increase of Veronafiere S.p.A., at the end of the first phase, reserved for shareholders, that closed on May 26th. The increase is expected to be completed in time with 100% pledged, as some shareholders have already expressed their interest in the unpledged amount.
“I express my personal satisfaction and that of the entire board of directors for the result of this first phase of the capital increase, which sees the shareholders confirm the unanimous will expressed in the recent meeting - said Maurizio Danese - it is a further concrete step towards the exit from an extremely complex period for the world's exhibition system. Now, thanks to the new resources received, it will be possible to reactivate an investment plan along lines of consolidation and development shared with the members. Among the fixed points, the presidium of the leading international exhibitions in the fairgrounds; an easier transfer of shares for the shareholders; the identification of partners for the strengthening of the company on the national and international scene, through alliances, aggregations and collaborations, always maintaining a strong territorial rooting in Verona. Today we present ourselves to the market with a united corporate structure that is determined to take the necessary steps to ensure that the Verona Fair is able to contribute more and more to the territory while guaranteeing profitability for its shareholders”, concluded President Danese.
In the meantime, the first great wine appointment in Italy is with “OperaWine - 10th year anniversary”, scheduled with Vinitaly-Veronafiere and “Wine Spectator”, on June 19, in Verona, in the celebratory edition, with 200 iconic wineries of Italian wine in the world (at the same time as the “Prima” of the Arena), an anticipated prologue to a “Vinitaly Special Edition 2021” in the new dates of October 17-19.
The current shareholding structure of Veronafiere Spa is as follows: Municipality of Verona (39.483%), Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno and Ancona (24.078%), Verona Chamber of Commerce (12.985%), Cattolica Assicurazioni (7.075%), Banco BPM Spa (7.009%), Agenzia Veneta per l'Innovazione nel Settore Primario (5.379%), Province of Verona (1.401%), Intesa Sanpaolo Spa (1.354%), Banca Veronese Cooperativo di Concamarise (0.883%), Immobiliare Magazzini srl (0.188%) and Veneto Region (0.161%).