GCC-based motorsport safety equipment firm makes successful stock exchange debut

Italy  :  Racing Force S.p.A., parent company of Racing Force International WLL (“Racing Force” or the “Company”), based in Shakir (Kingdom of Bahrain), on Tuesday began trading the ordinary shares of the Company on Euronext Growth Milan, the market dedicated to medium-sized companies organized and managed by Borsa Italiana S.p.A.

“The stock exchange debutis a major milestone for Racing Force’s growth path – commented Paolo Delprato, Chairman and CEO of Racing Force Group – The listing will provide us with adequate financial support to boost the development plans we have for the future on an international level. At this stage, after the successful integration process of all our highly recognised brands OMP, Bell Helmets and Zeronoise, we strongly believe it is the time for a growth that involves all our centres worldwide, enforcing the link that bundles our business and the countries we operate in. The entire management team and I will remain strongly involved in the leadership and management of the Group, ensuring continuity of commitment, strategies and values, in the interest of our employees, customers, suppliers and investors who will believe in the project. Having chosen Bahrain as the location to build our world-class manufacturing base alongside our existing plants in Italy, the Kingdom will now provide Racing Force with the perfect springboard for greater exports and growth into new international markets".

The stock closed at €5.36, up 19% from the placement price, reaching a capitalisation of €127.2. During the placement phase, the stock raised 31.2 million euro (including the over-allotment option), generating a demand 6 times higher than the amount offered by 74 institutional investors, including 43% foreign ones. Admission to the listing took place following the placement of 6.3 million shares at a price of €4.5. The free float is equal to 26.5% of the total ordinary share capital of Racing Force S.p.A., excluding the Over-Allotment Shares that will be potentially placed in the next 30 days.

The net proceeds deriving from the offering will be used by the Company to finance the development and growth of the Group’s business, strengthen its capital structure and maximize its future financial flexibility. In particular, Group’s growth will be focused on integrating and diversifying the business on an international level by exploiting the strong technological expertise and the cross-selling opportunities. Thanks to Racing Force’s R&D departments and the manufacturing plants based in Sakhir (Bahrain) and Ronco Scrivia and Pisa (Italy), innovation will be a main driver to pursue through a never-ending product and process innovation.

As a subsidiary of Racing Force Group, Racing Force International WLL, developing and manufacturing all Bell Racing Helmets, has headquartered its production within the Kingdom of Bahrain. The location will support growth through its best value operating costs and access to several markets including the US which Bahrain signed an FTA with, and the Kingdom’s trade and economic agreements with over 40 countries, including China, France, India, Singapore, and the UK.

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Group Description 

Racing Force Group is one of the global leaders in the field of motorsport safety equipment and has a wide range of products ranging from helmets, suits, gloves and shoes to seats, seatbelts, rollbars, steering wheels, fire extinguishers and communication systems. All products of the Group are marketed under OMP, Bell Helmets, ZeroNoise and Racing Spirit brands. The Group has the best and most complete range of safety products for Motorsport, used by professional drivers and teams from all over the world, from F1 to the World Rally, Karting and Rally-Raid Championship. In the last 10 years the Group has won more than 60 FIA World Championship titles with its products. The 50 years of experience in the market have allowed Racing Force Group to establish long-standing relationships with the main players (drivers, teams, FIA) and to develop products which are considered among the most reliable by both professional and amateur drivers and teams. Racing Force Group is located in three different continents: Ronco Scrivia and Pisa in Italy, Ghislenghien (Belgium), Sakhir (kingdom of Bahrain), Miami, Indianapolis and Mooresvile (USA) and count more than 400 employees. Racing Force Group products are sold in 80 countries worldwide.

About Bahrain Economic Development Board

The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.

The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.

The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages and provide significant investment opportunities. These sectors include financial services, manufacturing, technology and innovation, tourism, education, healthcare, logistics and transport.

© Press Release 2021