(Alliance News) - First Capital Spa announced Monday that it has sold all the shares it held in Labomar Spa, cashing in more than EUR9 million.

The company held 4.9 percent of Labomar's share capital through the veciol VF Health Srl. First Capital thus obtained a capital gain of EUR2.6 million, with a cash multiple of 1.65 times and an IRR of 20 percent.

Vincenzo Polidoro, managing director of First Capital Group's SICAF, said, "Consistent with our investment philosophy, we made the first entry into Labomar's capital as an anchor investor in IPO, in 2020, and participated in the governance of the company in the following three years to support it in its achievements. Today, the transaction allows us to realize returns in line with our track record, testifying to our ability to select and invest in Italian SMEs with high growth potential, capable of generating value for the company and for all shareholders."

First Capital's stock is up 1.9 percent at EUR16.40 per share while Labomar's stock is unchanged at EUR9.95 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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