The IPOX® Watch: Stevanato Group
Company Description
Founded in 1949 as Soffieria Stella, Stevanato Group is now an integrated solutions provider for pharma and healthcare industry, specializing in glass containment. Headquartered in Piombino Dese, Italy, Stevanato designs, develops, and manufactures drug containments (glass cartridge, vials, syringe, and ampoules), offers drug delivery systems (pen injectors, wearables, and inhalers), and provides in-vitro diagnostics (IVD) and medical solutions (as a CDMO).
Business Model
Stevanato generates revenue through sales in two segments, the biopharmaceutical and diagnostic solutions (sales in vials, cartridges and other drug delivery systems) and engineering segments (assembly, visual inspection, glass converting, packaging and sterilization).
IPO HISTORY
On 07/16/2021, Stevanato Group S.p.A. began trading on the NYSE led by Morgan Stanley. The Italian drug containment supplier downsized 20% to offered 32 million shares (including 9.6 million shares from selling shareholders) at $21.00 per share, low-end of its expected price range ($21 to $24). Stevanato was valued at ca. $6.2 billion at offer with the 15% over-allotment option partially exercised. The shares opened at $16.65 and closed the first day at $19.67 (-6.33%).
Stevanato Group S.p.A. was included in the IPOX® 100 Europe Index (ETF: FPXE US, FPXE LN, EFPX IM) and the IPOX® International Index (ETF: FPXI US) on 09/20/2021 and 03/20/2023 respectively. Stevanato has gained +49.08% YTD.
Historical Performance
as of 4/18/2023
