Ropes & Gray Advises ABC Company on the Structuring of an Innovative Scrip Dividend

Ropes & Gray has advised ABC Company S.p.A., a listed permanent capital investment company, on the structuring of an innovative scrip dividend combining cash and in-kind components.

The structure provides for the in-kind component to be satisfied, in priority, through the free allocation of newly issued listed shares or, at each shareholder’s election, through the allocation of convertible bonds listed on Euronext. The innovative structure provides shareholders with flexibility in the form of consideration, while balancing shareholder remuneration with the company’s capital strengthening strategy.  

The cash component of the dividend will be paid on 15 July 2026, while the in-kind component will be delivered on 29 July 2026. Shareholders may elect to receive convertible bonds instead of newly issued shares during the election period running from 20 July to 24 July 2026.  

The Ropes & Gray team was led by strategic transactions and private equity partner Alessandro Capogrosso, supported by associate Pietro Ramaglia.