Italy's De Nora Seeks Valuation of Up to EUR3.28 Billion in Milan Listing
21 June 2022 - 2:43AM
Dow Jones News
By Giulia Petroni
Industrie De Nora SpA said Monday that it seeks a valuation of
up to 3.28 billion euros ($3.44 billion) for its planned initial
public offering on the Euronext Milan.
The Italian electrode maker said it has set the indicative price
for the offering at between EUR13.50 and EUR16.50 per ordinary
share, implying a market capitalization of around EUR2.72 billion
and EUR3.28 billion after the capital increase.
The offering is set to be for a maximum of 35.08 million shares,
which corresponds to around 17.4% of the company's share
capital.
The offer period should start on June 22 and finish by the end
of the month. The start of trading will be determined by Borsa
Italiana and will be subject to approvals, according to De
Nora.
The company is controlled by the De Nora family, which holds a
64% stake in the company, while the remaining shares are owned by
Milan-based Snam SpA.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 20, 2022 12:28 ET (16:28 GMT)
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