Skip to content

Supply@ME (SYME) Shares Rally After Captive Bank Update

Sam Boughedda trader
Updated 22 Dec 2020

Practice Stock Trading
Supply@ME logo

Supply@ME (LON: SYME) shares are rallying on Tuesday after the company named Italian private equity firm, Quadrivio, as its partner in its Captive Bank Inventory funding project.

Quadrivio is an alternative investment company with a focus on private equity, private debt and managed accounts.

Supply@ME said that investment firm has cumulatively raised and managed more than €2 billion from both Italian and international institutional investors and the Quadrivio fund “Industry 4.0” will invest and capitalise the Captive Bank.

The Captive Bank's objective is to be a cornerstone investor in Supply@ME’s more comprehensive inventory funding programmes, working alongside all of its Inventory funding partners.

The bank will remain independent of Supply@ME, who will not be a shareholder and has no costs associated with the transaction. However, Supply@ME will be the primary commercial beneficiary of the acquisition, which will provide funding through the platform, via a “banking as a service” model.

“Quadrivio Group is the right Financial Partner for this highly innovative banking project. Leveraging the vast client network that the Industry 4.0 fund has internationally, the impact of the Captive Bank is expected to be transformational for Supply@ME and its access to Inventory funding capital,” stated Alessandro Zamboni, Supply@ME’s CEO.

The company’s share price jumped as high as 0.58p on the news. However, it has since given up some of the day’s gains, now priced at 0.51p, up 8.74% on the day.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.