ITALY. Safe Bag subsidiary SOSTravel.com has priced its shares at a minimum €5.60 each as it prepares for an initial public offering (IPO) on the Borsa Italiana – AIM Italia stock exchange. This values the company at €28 million, with trading expected to begin on 1 August.
As reported, luggage protection and tracing services company Safe Bag has been plotting the IPO over recent months, and has claimed strong interest from institutional and private investors. The price range approved by the company’s Board of Directors on 16 July envisaged a minimum price of €5.6o per share and a maximum price of €6.60 per share.
SOSTravel.com was founded in November 2017 to offer a series of new assistance services through a digital platform accessible both through mobile devices and via the Internet. The app’s services include flight and airport information, a lost-and-found concierge and health insurance.
Safe Bag was founded in 1997 by Rudolph Gentile. The company has been listed on the Italian Stock Exchange Borsa Italiana – AIM segment since September 2013.
