Avio S.p.A. (2ZP.F) Friday announced its proposal to increase share capital by up to 400 million euros through a rights issue of ordinary shares.
The company noted that the acceleration of growth prospects in Europe and the US space and defense sectors will require bolstered production capabilities in Italy and the US, alongside increased vertical integration to support expansion. Investments will support expansion in space launch services like Vega-C and Vega E and defense propulsion technologies, including a new US manufacturing facility operational by 2028.
Jefferies and Morgan Stanley will act as Joint Global Coordinators and Joint Bookrunners for the Rights Offering, which is expected to be completed by the end of the year.
Avio's new business plan projects average annual growth rates of around 10% for turnover and over 15% for EBITDA over the next 10 years.
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