(Nov 21): Italy’s Juventus Football Club SpA raised €97.8 million (US$113 million or RM468.3 million) in a stock sale, an operation aimed at reducing debt and supporting the company’s strategic plan.
The Milan-listed club completed the placement of 37.9 million new shares, equal to about 9.1% of the company’s capital, according to a statement on Friday. The offering was set at €2.58 per share, with UniCredit Bank GmbH acting as global coordinator and sole bookrunner.
Exor NV, a vehicle for Italy’s Agnelli family and Juventus’ majority owner, participated in the capital raise alongside number two shareholder Tether Investments. There was enough investor demand to cover the deal shortly after it was launched, the terms showed.
Proceeds from the sale will help the club to gradually reduce debt, raise its international brand and maintain “maximum sporting competitiveness at Italian and international level”, according to the terms.
Juventus remains one of the highest-profile assets in the Agnelli empire. Even after governance turmoil and legal pressures, the family has kept tight control of the club, treating it as a cultural flagship and a strategic extension of the family’s €36 billion Exor portfolio, which includes Ferrari NV, Stellantis NV and The Economist.
Earlier this year, crypto firm Tether built a 11.5% stake in Juventus to become the football club’s second-largest shareholder.
See also: Apollo buys majority stake in Atlético Madrid, joining rivals buying sports teams — Bloomberg
Uploaded by Magessan Varatharaja
