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Pirelli’s IPO could be the largest in EMEA this year

Pirelli, the Italian tyre maker, has revealed the price range for its IPO in Milan, which could surpass the €3bn flotation of Allied Irish Banks in June as the biggest IPO in Europe this year - if the deal is priced near the top of the range and the greenshoe is exercised.

  • By Aidan Gregory
  • 15 Sep 2017

The deal consists of 350m existing shares, a 35% stake, plus a greenshoe of 50m shares.

Marco Polo International Italy, a vehicle 65% owned by China National Chemical Corp (ChemChina), is the selling shareholder. There is a retail offer in Italy for 10% of the base deal. ...

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Bond Comments

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 304,500.91 1183 8.04%
2 JPMorgan 297,722.75 1300 7.86%
3 Bank of America Merrill Lynch 278,326.06 937 7.35%
4 Barclays 230,841.51 858 6.10%
5 Goldman Sachs 206,469.72 679 5.45%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 BNP Paribas 43,227.81 174 7.04%
2 JPMorgan 38,825.76 78 6.32%
3 Credit Agricole CIB 33,071.14 158 5.38%
4 UniCredit 32,366.25 145 5.27%
5 SG Corporate & Investment Banking 31,330.98 120 5.10%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 13,024.03 55 8.90%
2 Goldman Sachs 12,162.67 59 8.31%
3 Citi 9,480.20 54 6.48%
4 Morgan Stanley 8,083.13 49 5.52%
5 UBS 7,976.88 32 5.45%