Italian high-tech company SECO to list 40-45% of share capital (updated)

Philogen

12/04/2021 08:06

(Adds details)
    MILANO, April 12 (Reuters) - Italian high-tech group SECO
said on Monday it aimed to float up to 45% of its share capital
through an initial public offering on the Milan stock exchange. 
  
    SECO plans to sell up to 37.8 million shares, of which up 27
million will be newly issued. The size of the offer could be
increased by up to 15% through an overallotment option.
    SECO, which develops embedded microcomputers and 'internet
of things' solutions, will use cash from the new share sale for
acquisitions and international expansion.
    Tuscany-based SECO expects to launch the offer in the second
quarter, making it the second listing on the Milan bourse's main
market this year following the debut in March of biotech firm
Philogen  PHIL.MI .
    Goldman Sachs and Mediobanca are acting as joint global
coordinators for the IPO.


 (Reporting by Elisa Anzolin; editing by Valentina Za)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))