FILA jumps after Indian unit Doms approves IPO

FILA Fabbrica Italiana Lapis ed Affini SpA

24/07/2023 08:42

** Shares in Italy's FILA  FILA.MI  rise as much as 5% after
the board of its Indian unit Doms approved an initial public
offering (IPO) on Friday
    ** "This extraordinary operation strengthens our positive
view on the stock," Akros says in a note
    ** The broker expects the listing to decrease FILA's net
debt to 315 million euros ($350.41 million) by the year end
    ** Intesa says the IPO could improve FILA's financial
leverage, raise cash for profitable acquisitions, and increase
EBITDA margin, while leaving the group in charge of a listed
company expected to grow strongly in the coming years
    ** The stock is up 2.6% as of 0731 GMT and has gained more
than 14% YTD

($1 = 0.8990 euros)

 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))