illimity Bank’s shares listed on STAR Borse Italiana

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Italy-based illimity Bank has announced that it has received approval from Borsa Italiana to trade its ordinary shares on the STAR segment of the Electronic Stock Exchange, organised and managed by the Italian Stock Exchange.

Corrado Passera, illimity CEO, commented, “A little more than a year after the admission to listing on the Italian Stock exchange, we are very satisfied to have been admitted to the STAR segment. This confirms once again the quality of the decisions made in terms of governance and transparency, as well as from a strategic and operational perspective, in the creation and development of a new paradigm bank”.

illimity stated that its ordinary shares would start to trade from 10th September on the STAR segment of the Italian Stock Exchange; this is the market segment of Borsa Italiana’s equity market (MTA) dedicated to midsized companies with standards in terms of transparency and communication, liquidity and corporate governance.

According to illimity, it meets the technical requirements for the STAR qualification. The Bank has also adopted a governance system in line with best practices, both domestically and internationally and has reported a positive economic result with a net profit of 15 million euros in the first half of 2020.

Founded and headed by Corrado Passera, illimity extends financing to high potential SMEs, purchases distressed corporate loans and services these through its platform and provides digital direct banking services through illimitybank.com and, with illimity SGR, over the next few months will set up and manage the first Alternative Investment Fund for corporate loans.