Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
[email protected] (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.
[email protected] 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 [email protected]’s more comprehensive inventory funding programmes, working alongside all of its Inventory funding partners.
The bank will remain independent of [email protected], who will not be a shareholder and has no costs associated with the transaction. However, [email protected] 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 [email protected] and its access to Inventory funding capital,” stated Alessandro Zamboni, [email protected]’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.
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