PIOMBINO DESE (PADUA) – The Paduan company Stevanato Group land a Wall Street. A debut that follows the increase in revenues in 2020. The assets of the honorary president, Sergio Stevanato, have reached 3 billion dollars. The evaluation of the Venetian company of packaging farmaceutico (just think Stevanato Group is the world leader in cartridges for insulin pens and the second in glass ampoules) has reached 6.3 billion. The Stevanato was founded in the province of Venice in 1949 by Giovanni Stevanato, in ’59 the transfer to Piombino Dese and the specialization in pharmaceutical packaging. The 2020 turnover was 662 million euros, in 2019 it was 570 million. For its debut on the stock market, Stevanato Group made available 32 million of its own shares, at a price of 21 dollars each.
Yesterday’s debut with closing down
The Stevanato Group closed down 6.3% on Wall Street on its first day of trading. Stevanato raised $ 672 million with the initial public offering. The group’s shares began at $ 16.65 per share, below the ipo’s $ 21 and then lost up to 21% and closed at $ 19.67. According to Bloomberg, the company has a market capitalization of 5.9 billion at this level.