illimity Bank (MIL: ILTY) has been appointed as a nominated adviser, or Nomad, by Borsa Italy. A Nomad is a point of contact for companies looking to raise capital to consolidate their competitive position and speed up their growth process by listing on the Italian Alternative Investment Market (AIM Italia), which is designed for small and medium-sized enterprises. In the announcement, the company noted that Nomads play a central role in helping businesses that are intent on opening up new opportunities for market access to consolidate their position and accelerate their growth plans. illimity is ideally suited for the role of Nomad, as the bank already provides equity and debt capital markets services as part of its specific capital markets platform. “Becoming a Nomad will enable us to further enrich the services we provide for high-potential companies by assisting them in their growth and innovation projects,” said illimity CEO Corrado Passera in the press release. “There is still great untapped potential in a very large number of Italian SMEs, and illimity intends to make every effort to enhance it.”
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About illimity Bank S.p.A.
illimity is the high-tech banking group founded and headed by Corrado Passera that was created with the aim of responding to specific market needs by way of an innovative and specialist business model. More specifically, illimity extends financing to high-potential SMEs (“SMEs”); purchases distressed corporate loans and services through its platform, neprix; provides digital direct-banking services through illimitybank.com; and with illimity SGR plans on setting up and managing the first Alternative Investment Fund for corporate loans in the coming months. The story of the illimity Group began in January 2018 with the launch of the special purpose acquisition company SPAXS S.p.A., which ended with a record 600 million euro being raised on the market. SPAXS subsequently acquired Banca Interprovinciale S.p.A., with the resulting merger between the two giving rise to illimity Bank S.p.A., which has been listed on the Italian Stock Exchange since 5 March 2019, firstly on the MTA platform and since September 2020 on the Star segment. The banking group, headquartered in Milan, can already count on over 600 employees and lists assets of more than 4 billion euro in its balance sheet at the end of 2020. For more information about the company, please visit www.illimity.com.
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