MILAN (Reuters) – Italy’s Civitanavi Systems plans to list on Euronext Milan stock market in order to increase production capacity and improve product innovation, the inertial navigation and stabilisation system company said on Wednesday.
Born as a start-up in 2012, Civitanovi Systems aims to raise around 40 million euros ($45.33 million) from new shares issued as part of the offering, a private placement that will include also the sale of existing shares.
The company, controlled by the sole shareholder Civitanavi Systems Ltd., does not rule out to grow through acquisitions of companies with complementary research and development skills.
($1 = 0.8825 euros)
(Reporting by Cristina Carlevaro, editing by Maria Pia Quaglia)
