Italian SMEs outnumber main Euronext Milan listings

MILAN (Reuters) -The number of Italian small and medium-sized companies listed on the Euronext Growth Milan (EGM) platform has surpassed the number of companies on the main Milan market for the first time, a further sign of disaffection toward the stock exchange, Italy's Consob watchdog said.

As of now, there are 204 companies listed on the EGM, formerly known as Aim Italia, compared to 202 listed on the main Euronext Milan market.

At the end of 2024 there had been 209 companies traded on the main Italian market and the same number on the EGM segment, Consob said in its annual report.

Companies leaving the market this year include consumer electronics chain Unieuro and financial company Mittel, both after buyouts.

"The trend is not rosy even if it is not exclusively Italian. Other mature markets, with the exclusion of Asia, are also experiencing the same decline," the watchdog said.

The EGM is a market dedicated to small and medium-sized enterprises with high growth potential. It was created in 2009.

Market capitalisation provided a brighter picture for the main market, standing at 930 billion euros as of June 18 despite the drought in new listings and the jump in delistings, boosted by the growth in the prices of constituent companies.     The value of stocks traded on the EGM was far smaller, amounting to just over 8 billion euros ($9.2 billion).

($1 = 0.8721 euros)

(Reporting by Giancarlo NavachEditing by Keith Weir)