Below is the press release, available in PDF format.
Total proceeds of €5.5 million entirely in capital increase
Investor demand more than twice the offer
Placement price set at €1.80 per share
Post-money equity value of €21.2 million
Trading expected to begin on Wednesday, December 3, 2025
With the IPO, the Group accelerates its development path through, in particular, growth through M&A and process optimization.
Genoa, December 1, 2025
RT&L S.p.A. (“RT&L” or “Company”), head of the group of the same name, active in global logistics services with a strong
presence in strategic markets and a wide range of integrated solutions in the freight forwarding and customs brokerage sectors, announces that it has today received from Borsa Italiana S.p.A. notification of admission to trading of ordinary shares on Euronext Growth Milan, a multilateral trading facility organized and managed by Borsa Italiana.
Trading is expected to commence on Wednesday, December 3, 2025.
Issuer Profile
RT&L (“Issuer”) is active in global logistics services, with a strategic presence in key international markets
and an operational platform structured to support the entire cycle of activities, particularly in the freight forwarding and customs brokerage sectors. Thanks to an asset-light model capable of guaranteeing high margins, flexibility, and cash generation capacity, integrated with cross-functional expertise in the most technically advanced logistics segments, RT&L offers end-to-end solutions characterized by high standards of reliability, efficiency, and customization. The Group develops its activities across three business lines:
• Custom Brokerage (customs services), relating to integrated customs management and regulatory consulting services, ensuring regulatory compliance and operational continuity, carried out through the subsidiary P&A Spedizioni Srl in the ports of Genoa, Genoa-Prà, and the Rivalta Scrivia freight village.
• Project Cargo & Chartering, relating to the management of large-scale complex transport and maritime chartering services, aimed at the implementation of large-scale industrial projects at an international level.
• General Cargo, relating to international shipments by sea, air, and land of “containerizable” goods, offering customized solutions, document management, and support for all global trade needs.
The Group’s pro-forma consolidated results for the year ended December 31, 2024 show sales revenues of €8.7 million, EBITDA of €1.4 million and an EBITDA margin of 15.7%, as well as an acceleration in the first half of 2025 with sales revenues of €5.3 million, EBITDA of €1.8 million and an EBITDA margin of 33.9%.
Through its admission to trading on Euronext Growth Milan, the Group intends to accelerate its development path, which will be implemented mainly through a strategy of external growth, starting with customs brokerage, and the continuous optimization of processes that already enable the Group to achieve higher profitability levels than the industry average.
Placement
Admission to trading took place with the placement of a total of 3,054,000 ordinary shares, of which 277,000 shares resulted from the exercise of the over-allotment option granted by the shareholders Redeem Finance S.p.A., Roberto Bizzarri, and Raviero S.A. to Integrae SIM S.p.A..
The offering attracted strong interest from qualified and non-qualified institutional and professional investors, both Italian and foreign, generating total demand more than twice the amount offered.
The placement price was set at €1.80 per share, for a total value of approximately €5.5 million (assuming full exercise of the greenshoe option, the latter for a total value of approximately €0.5 million) and a post-money equity value (also considering the 926,392 multiple-voting shares not admitted to trading) of approximately €21.2 million (assuming full exercise of the greenshoe option). The free float will be 26.25% of the ordinary shares, without considering the exercise of the greenshoe option, and 28.14% assuming full exercise of the greenshoe option.
The ordinary shares are assigned the alphanumeric code “RTL” and the ISIN code IT0005680373.
Share Capital and Shareholders
The Issuer’s share capital at the start of trading and before any exercise of the greenshoe option will consist of 10,550,608 ordinary shares with no par value and 926,392 multiple voting shares (10 votes per share), divided as follows:
– 10,550,608 ordinary shares with no par value: 100% of the share capital
– 926,392 multiple voting shares (10 votes per share): 100% of the share capital
(1) Rony Mc Holding: company owned 99% by Maria Antonina Pisani and 1% by Graziano Astaldi.
Press release
(2) Redeem Finance S.p.A.: company owned 33.33% by Redelfi S.p.A., 28.0% by Davide Sommariva through Marinetta S.r.l.,
28.0%, Raffaele Palomba through Intersidera S.r.l. for 5.34% and Luca Sarritzu through TZU S.r.l. for 33.33%
(3) Raviero S.A.: company wholly owned by Raffaella Ricchetti
Advisors to the transaction
As part of the admission procedure for trading on Euronext Growth Milan, RT&L was assisted by: Integrae SIM (Euronext Growth Advisor and Global Coordinator), IRTOP Consulting (Financial Advisor and Equity Research Provider), MG LAW Studio Legale and ADVANT Nctm (Legal Advisors), RSM Società di Revisione e Organizzazione Contabile (Auditors) and Studio Gallina (Tax and Social Security Advisors).
Roberto Bizzarri, CEO of RT&L S.p.A., commented: “The listing on Euronext Growth Milan represents a
a fundamental step in the consolidation of our Group. The strong interest shown by
Institutional and professional investors confirm the credibility of our vision and strategy.
The resources raised will enable us to accelerate growth, with a focus on M&A and the evolution of
internal processes, so as to continue improving performance and competitiveness. Thanks to the entire
team and all the advisors who were involved in this process.”
5Further information
The Company’s Board of Directors, meeting on November 25, 2025, appointed Roberto Bizzarri, former CEO, as Investor Relations Manager of the Issuer.
For the dissemination of regulated information, the Issuer uses the 1INFO dissemination system (www.1info.it) managed by Computershare S.p.A., with registered office in Via Lorenzo Mascheroni 19, Milan.
The Admission Document is available at the Company’s registered office and on the website www.rtlproject.com, Investor Relations section> IPO.
This press release is available on the website www.rtlproject.com, Investor Relations section > Press Releases and on www.1info.it.
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RT&L S.p.A. is the Italian company at the head of the group of the same name, specializing in international logistics and shipping solutions with a consolidated presence in key strategic global markets. The Group offers customized services for the management of complex goods and projects, ensuring a flexible approach with high added value. Its activities are divided into three main business lines: Project Cargo & Chartering, dedicated to the handling of exceptional loads, project cargo, and oversized transport, as well as maritime and air chartering; General Cargo, focused on international sea, air, and land traffic with multimodal solutions and complete document management; and Customs Agency, which provides integrated customs services, regulatory consulting, and import/export procedure management.
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Contatti
Emittente
RT&L | Investor Relations Manager | Roberto Bizzarri | investor.relations@rtlproject.com | T: 010 4717199 | via Bacigalupo 4, 16122 Genova, Italia
Euronext Growth Advisor & Specialist
Integrae SIM | info@integraesim.it | T: +39 02 80506160 | Piazza Castello 24, 20121 Milano
