Italian Textile Machinery Maker Itema Plans To Go Public By End-June

MILAN, Italy —  April 9, 2018 — Italian textile machinery maker Itema said on Monday it planned to list its shares on the Milan stock exchange in the first half of the year in an initial public offering reserved to institutional investors.

The group, which posted sales of 306 million euros last year, will offer at least 35 percent of its capital in the IPO, including an overallocation option.

Itema will offer both existing shares owned by its current shareholders as well as new shares which will be equivalent to 23.8 percent of the company’s capital after the cash call.

Posted April 17, 2018

Source: Reuters (Reporting by Francesca Landini, editing by Valentina Za)