Italy's SECO targets market cap of up to 445 mln euros in Milan IPO (updated)

Philogen

20/04/2021 09:23

(Recasts, adds details)
    MILAN, April 20 (Reuters) - Italian high-tech company SECO
said on Tuesday it had set the price range for its initial
public offering in Milan at between 3.30-4.15 euros per share,
aiming for a market capitalization of up to 445 million euros
($537 million). 
    Tuscany-based SECO, which develops embedded microcomputers
and 'internet of things' solutions, plans to sell up to 37.8
million shares, of which up to 27 million will be newly issued.
    The size of the offer could be increased by up to 15%
through an overallotment option.
    The company said earlier this month it was aiming to float
up to 45% of its share capital to get fresh resources to grow
abroad through acquisitions. urn:newsml:reuters.com:*:nL8N2M514U
    SECO is set to be 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.
($1 = 0.8286 euros)

 (Reporting by Elisa Anzolin, editing by Agnieszka Flak)
 ((agnieszka.flak@thomsonreuters.com; +39 02 6612 9450; Reuters
Messaging: agnieszka.flak.thomsonreuters.com@reuters.net))