AIM Italia

Borsa Italiana announced today that Centrobanca and Intermonte SIM have qualified to become AIM Italia’s first two Nominated Advisers (Nomads). The Rule Book for AIM Italia, Borsa Italiana’s new exchange-regulated market, became effective on 1 December 2008.

Seven other firms have also applied to join Borsa Italiana’s Register of Nominated Advisers: Abaxbank, Banca Akros, Eidos Partners, Equita SIM (Ex Euromobiliare SIM), MPS Capital Services, UniCredit Group and Unipol Merchant.

Nomads will play a central role in AIM Italia, and will be responsible for evaluating the suitability of each company seeking to join the market. Each company on AIM Italia must retain a Nomad at all times, who will support the company following its admission to market and oversee its compliance with the AIM Italia rules.

AIM Italia is distinguished by its balanced regulatory approach, underpinned by the Nominated Adviser system, the international visibility generated through its close links with AIM, as well as its straightforward admissions process tailored around the needs of Italian small and mid-cap companies.

Luca Peyrano, Head of Continental Europe, Borsa Italiana – London Stock Exchange Group commented: “Centrobanca and Intermonte SIM’s admission to the Nomad Register of AIM Italia, represents an important step forward in the market’s launch. AIM Italia has been specifically designed to meet the capital raising needs of small and medium-sized Italian companies, designed to attract liquidity from both Italian and international investors.”

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Who are Nominated Advisers (Nomads)?
As per the Rule Book, each company on AIM Italia must retain a Nomad at all times. Nomads are responsible for assesing  the suitability of each company that intends to join AIM Italia.

Nomads must also ensure companies’ ongoing compliance with the AIM rules,

Nomad status will be provided by Borsa Italiana, which is responsible for admitting Nomads to the Registry of Nominated Advisers. The Registry will be available on the Borsa Italiana web site.

How to be a Nomad
Nomad status is subject to the approval of Borsa Italiana, which follows an objective evaluation process in order to guarantee the respect of those principles necessary to preserve the reputation and integrity of the market.

Evaluation will follow qualitative criteria aimed to verify the experience in corporate finance and the structure of the Nomad. Therefore, the profile of key executives becomes relevant to the appointment of the status of Nomad. Key executives are high level profiles who worked at relevant financial operations and have a strong knowledge of Italian corporate and legal affairs.

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