Grandi Salumifici Italiani takes first steps towards the stock exchange

Modena/Innichen – The board of administration of Grandi Salumifici Italiani (GSI) has taken the next step for listing shares on the Italian Stock Exchange. On Wednesday, the 10th October 2007, the company handed over the necessary documents to the Italian Consob and the Borsa Italiana for listing at the Star-Segment of the Mercato Telematico Azionario (MTA). The Consob must accept these documents and the Italian Stock Exchange must give approval for quotation, before GSI can start listing shares.

The global offering is directed at Italian citizens, institutional investors in Italy and abroad, with exception of the USA, Japan, Australia and Canada.

Lead-Manager is Mediobanca, JP Morgan and BNP Paribas will act as Joint Bookrunners while Unipol Merchant was chosen as the designated sponsor of the emittent. Deloitte & Touche will act as auditors. Legal advisors are Dewey & LeBouef, Clifford Chance act as advisors to the coordinator of stock brokerage.

Newly elected board of administration 

General director Claudio Palladi was named chief executive by the board of administration. Palladi has been given full authority by president Franz Senfter and vice-president Ildo Cigarini. 
The newly elected board of administration is made up of four active members (Franz Senfter, Ildo Cigarini, Claudio Palladi and Helmuth Senfter), three non-active members (Heinrich Riffesser, Milo Pacchioni, Gianni Mozzoni) and four independent members (Stefano Baraldi, Ivano Barberini, Maurizio Labanti and Giuliano Righi).

First half-year 2007: turnover up by 3 percent

The turnover amounted to 201,4 million Euro showing an increase of 3 percent in the first half year. Sales amounted to nearly 36.000 tons of processed meats. The consolidated EBITDA was at 24,9 million Euro (2006: 17,4 million Euro). Consequently, the EBIT rose by 67 percent to 17,8 million Euro. The net gain amounted to 12 million Euro which correlates to a 94 percent increase compared to 2006.