Italian refrigeration group Epta weighs listing in Milan before August - sources

By Francesco Zecchini and Francesca Landini

MILAN (Reuters) - Italian refrigeration group Epta could list on the Milan Stock Exchange before August, aiming for an enterprise value of 1.8 billion euros ($1.9 billion), two sources with knowledge of the matter told Reuters on Wednesday.

The decision will be taken depending on the market conditions, the sources said, adding that the offering would consist of new shares and existing shares.

Epta, which generated 1.2 billion euros ($1.3 billion)of turnover in 2021, is owned by the Italian families Nocivelli and Triglio Godino and specialises in products and services for the retail, food and beverage and hospitality sectors.

Italian company Industrie DeNora, which makes components to produce green hydrogen, said on Monday it plans to list in Milan later this month.

"De Nora is acting as an icebreaker for other firms which want to list," one of the sources said, adding that other companies are looking at the progress of that listing.

Like DeNora, Epta has also invested in the green transition.

In 2018, the group launched the Life-C4R project which aimed to eliminate polluting hydrofluorocarbon chemical refrigerants. The project was co-financed by the European Union.

Rothschild is acting as advisor to Epta during the IPO process, while JP Morgan, Morgan Stanley, Mediobanca and BNP Paribas are acting as bookrunners, one of the sources told Reuters.

($1 = 0.9311 euros)

(Reporting by Francesco Zecchini and Francesca Landini, writing by Francesco Zecchini; Editing by Keith Weir)