The public float was offered through private placement reserved for qualified investors in Italy and institutional investors abroad. The shares included in the offering were sold pro-rata by Luigi Rossi Luciani Sapa and Luigi Nalini Sapa. 

Carel chief executive Francesco Nalini said: “The idea to list on the stock exchange, while still maintaining control of the company, is a long-term project we have been working on for many years. We believe it will be positive for long-term performance, so as to avoid resting on our laurels or becoming self-referential, while being open to the market.”

“The decision to list on the stock exchange was taken as part of the development strategies that have always defined our company, and can therefore be considered a fundamental step in assuring further growth. Being present on the financial market will in fact represent a boost and an incentive to improve even more”, commented Carel’s founders Luigi Rossi Luciani and Luigi Nalini.

The shares’ performance over the first few days were very positive, rising strongly on their debut; investors rewarded the company’s history, the fact that it is a long-term success story and its low exposure to the Italian market.