Italy's SECO aims for up to 445m euros market cap in Milan IPO
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
[MILAN] Italian high-tech company SECO said on Tuesday it had set the price range for its initial public offering in Milan at between 3.30-4.15 euros per share, aiming for a market capitalization of up to 445 million euros (S$712 million).
Tuscany-based SECO, which develops embedded microcomputers and 'internet of things' solutions, plans to sell up to 37.8 million shares, of which up to 27 million will be newly issued.
The size of the offer could be increased by up to 15 per cent through an over allotment option.
The company said earlier this month it was aiming to float up to 45 per cent of its share capital to get fresh resources to grow abroad through acquisitions.
SECO is set to be the second listing on the Milan bourse's main market this year following the debut in March of biotech firm Philogen.
Goldman Sachs and Mediobanca are acting as joint global coordinators for the IPO.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
