Successful IPO for Energica

 

Its bikes might be a little slow in coming, but Energica is already a public company.

Energica Motors was introduced on Borsa Italiana’s AIM market at €3.20 a share on January 29. On February 3, the stock was up to €3.70, giving the company a valuation of $42.25 million. The IPO raised $5.75 million, which Energica will use to expand its distribution and production.

There is a lot of interesting information in the IPO prospectus: the Italian startup admitted to 8 sales for 2015, and goals of 244 sales in 2016 and 651 in 2017. The firm recognized only 6 dealers/importers at the start of 2016:

There is also a good overview of the target market for Energica’s bikes:

 

The prospectus mentions a third model for 2018, a fourth model for 2020 and a re-fresh of the first three models in 2021.

It looks like Energica has a methodical strategy which looks a lot like Tesla’s: first release high end products, go public very quickly to finance the strategy, and announce new products. Will the third model in 2018 be a lower-priced bike, imitating Tesla with its Model 3? It will have to, since Energica is claiming to want to become the leading electric motorcycle manufacturer. Zero might have something to say about that…

For now all we know is that the EVA has recently joined the EGO on the production line. The sales goal of 244 bikes for 2016 seems attainable if Energica can ramp up production. We contacted Hollywood Electrics, one of the US distributor, and were told that if ordered today, an EGO could be delivered within 2 to 4 months. Stay tuned…

 

 

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4 comments for this post
  1. AutoE wrote the 07/02/2016

    Energica has put together an amazing superbike that has real appeal. They’ve made it happen where others have repeatedly failed. Not sure you’re CY2015 sales number is correct. I’m counting more than 6 deliveries. We’re eagerly awaiting our first ENERGICA EGOs here in Israel, the only holdup being local regulation.

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