148 Companies Delist: Italy Seeks New Ways to Boost Stock Market
Piazza Affari has lost 148 listed companies and 69 billion euros in market capitalization since 2021, according to data from Consob and Borsa Italiana. The ongoing contraction of Milan’s stock exchange has left business leaders seeking new ways to channel household savings into domestic enterprise before the market shrinks further.
Delisting Wave Shrinks Milan’s Main Board
Four separate public purchase offers closed on Friday, October 23, showing a steady drain of corporate equities from the domestic list. Respighi BidCo, a vehicle riconducibile to Cvc and Gbl, secured 62.15 percent of Recordati, pushing its total stake to 74.58 percent through market purchases and prior holdings, with the 62.15 percent representing roughly 6.89 billion euros. The acquiring group intends to push through a full delisting, utilizing a merger if necessary.
Similar consolidation pressures claimed other names on the exchange. Pendant Power reached an 88.12 percent acceptance rate for PLC, prompting an extension of the offer period. Rinova BidCo captured 98.91 percent of Reway on preliminary figures, clearing the path for the purchase of remaining shares and exit from the list. Haiki+ concluded its own capital restructuring under the same wave of take-private transactions.
Not all departures stem from the same corporate strategy, as some exits reflect acquisitions, mergers, corporate reorganizations, or underlying business difficulties. Yet the collective result is a persistent thinning of the domestic equity universe. The European Union continues to press member states to deepen capital markets and reduce corporate reliance on traditional bank lending, creating friction with the shrinking Italian list.
Industry Associations Petition Ministry Over Household Savings
Faced with a diminishing pool of publicly traded equities, major financial associations including Abi, Ania, Assogestioni, Assoreti, and Aipb submitted a formal proposal to the Ministry of Economy under Giancarlo Giorgetti. The plan asks the government to introduce tax-incentivized Savings and Investments Accounts, modeled on broader European capital union goals.
The proposed savings accounts require a minimum five-year duration, mandate that at least 70 percent of investments rest in instruments from European Union or European Economic Area issuers, and set an equity allocation floor of 50 percent.
Aipb president Andrea Ragaini stated that Italy has an extraordinary amount of private savings, which represents a strategic resource for supporting the growth of the economy and businesses,
noting that the primary challenge involves creating conditions for families to channel wealth into productive enterprise with a long-term horizon.
Shifting household capital away from predominant bond allocations toward risk equity requires targeted fiscal incentives to accelerate the transition, according to Ragaini.
Mps Faces Strategic Votes Amid Banking Consolidation
An exit by a financial institution of that magnitude would remove another anchor from Milan’s board. The contrast remains stark: policymakers and trade bodies urge citizens to fund the real economy through public shares while the market itself continues to shed its defining constituents.
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