Selle Royal Group aim to list on the Milan Stock Exchange

The Selle Royal Group, which also owns the Brooks England and Crankbrothers brands, and makes accessories and components for other bicycle industry brands, has reported it aims to list on the Milan Stock Exchange.

The group, controlled by the Bigolin family, saw private equity firm Wise Equity buy a 33percent stake in May of 2021.

With a reported revenue of 205 million euros ($235 million) and a core profit of 36.4 million euros in the financial year ending June 30, the Italian bicycle saddle maker said it was targeting the Star segment of Milan’s bourse, aimed at smaller and medium-sized companies, which requires a free float of at least 35% and sets stricter regulations on governance and liquidity.

The offering will consist of new and existent Selle Royal shares sold by the two shareholders, the company said in a statement. In May of 2021, Wise Equity took a stake worth 33% of the business.

The Bigolin family holding will keep control of the company after the listing thanks to a loyalty share scheme.

Equita SIM and UBS Europe SE will act as joint global coordinators for the IPO.

Capital For Progress Advisory is the financial advisor.

For those looking for a guide to cycling industry shares in the UK, as well as new EU listings, head to our mini guide here.