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Italy's Generalfinance prices IPO at 7.2 euros per share

Reuters
Updated ·1-min read

MILAN (Reuters) -Generalfinance said on Friday it had priced its initial public offering (IPO) on the Milan stock exchange at 7.2 euros per share, valuing the Italian credit management company at 91 million euros ($96.01 million).

The overall offering is worth 38.9 million euros, the company said in a statement adding that it comprises of 2.8 million new shares resulting from the capital increase and 2.6 million shares sold by shareholder Crédit Agricole Italia.

The company reiterated that its debut on the Euronext Star segment of Milan's bourse is expected on June 29.

Banca Akros and Intesa Sanpaolo - IMI Corporate and Investment Banking are acting as joint global coordinators and joint bookrunners. Ceresio SIM and Invest Italy are the Co-Lead Managers while Banca Akros also acts as sponsor for the listing.

($1 = 0.9479 euros)

(Reporting by Federico Maccioni, editing by Gianluca Semeraro)