Ariston Seeks to Raise Up to $1 Billion in Milan IPO
(Bloomberg) -- Ariston Holding NV and its shareholders seek to raise as much as 888 million euros ($1 billion) in what promises to be Italy’s largest initial public offering in two and a half years.
Shares will be marketed from Thursday at 10.25 to 12 euros each, with the Italian heating company targeting proceeds of about 300 million euros, according to an emailed statement.
An additional 49 million shares will be sold by shareholders Merloni Holding SpA and Amaranta Srl through a secondary offering. The price range implies a market value of as much as 3.9 billion euros for the company.
Ariston’s IPO is set to be the biggest in Milan since payment-services firm Nexi SpA’s 2 billion-euro listing in April 2019, data compiled by Bloomberg show. The offering will run through Nov. 24, with the first trading day set for Nov. 26.
Read More: Big Deals Come to Italy After Years of Small Listings: ECM Watch
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