Italy's Carel shares rise 13 pct in market debut

Carel Industries SpA

11/06/2018 08:40

June 11 (Reuters) - Shares in Italy's Carel  CRLI.MI  rose
as much as 13.9 percent on Monday after the manufacturer of air
conditioning and refrigeration control systems defied political
and market chaos in the country pulling off an initial public
offering.
    The stock, which listed on the STAR segment of the Milan
bourse, started trading at 7.95 euros per share and rose to 8.2
euros per share. This compares with a price set for the initial
public offering of 7.2 euros. 
    Several other market listings in Italy have been put on hold
due to political uncertainty in recent weeks as an
anti-establishment government came to power.
    

 (Reported by Anna Rzhevkina in Gdynia; editing by Valentina Za)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))