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

By Aidan Gregory
15 Sep 2017

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.

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. ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial