The Board of Directors of SIA, meeting today under the chairmanship of Federico Lovadina, approved the start-up of the process to list the company’s ordinary shares on the Mercato Telematico Azionario (MTA) market, organized and managed by Borsa Italiana, „expected to take place by summer 2020.”, according to the press release.
Over the course of the same meeting, SIA’s Board of Directors also approved the 2020-2022 Strategic Plan, which, with the support and full confidence of the shareholders, „aims to consolidate the company’s positioning internationally so that it becomes the leading player in the digital payments sector.”, the company said.
SIA, controlled by CDP Equity with an 83.09% stake, processes around half the payments made using debit, credit and prepaid cards in Italy.
SIA is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and the Public Sector, in the areas of payments, cards, network services and capital markets. SIA Group provides its services in 50 countries, and also operates through its subsidiaries in Austria, Croatia, Czech Republic, Germany, Greece, Hungary, Romania, Serbia, Slovakia and South Africa. The company also has branches in Belgium and the Netherlands, and representation offices in the UK and Poland.
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”