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Italy's Avio mulling IPO on Milan stock market - sources

Reuters - UK Focus

MILAN, Aug 13 (Reuters) - Avio Spazio, the space propulsion company controlled by private equity Cinven, is considering an initial public offering on the Italian stock market, three sources familiar with the matter said on Thursday.

Cinven, which owns around 80 percent of Avio, has kicked off a beauty contest to find the banks to help Avio list on the Milan bourse, two of the sources said.

A third source said a listing was an option but added no decision had as yet been taken.

Italian state-controlled defense conglomerate Finmeccanica (Amsterdam: FC6.AS - news) holds a stake of around 15 percent in Avio.

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Cinven and Finmeccanica (Other OTC: FINMF - news) declined to comment.

In 2014 Avio Spazio posted revenues of 224.5 million euros ($249 million). ($1 = 0.9003 euros) (Reporting by Elisa Anzolin and Massimo Gaia, additional reporting by Stephen Jewkes; editing by Agnieszka Flak)