MILAN, March 15 (Reuters) - Banca Farmafactoring, the Italian unit of factoring group BFF Banking Group, is set to be valued at around one billion euros in its initial public offering, two sources familiar with the matter said on Wednesday.
The bank, which is 94.2 percent owned by BFF Luxembourg, is planning to sell a stake of up to 35.83 percent in a listing in Milan in the first part of April.
Banca Farmafactoring specialises in managing bills issued by suppliers of Italy’s national health service and public administration.
In 2016 Banca Farmafactoring reported a net adjusted profit of 88 million euros.
Mediobanca, Morgan Stanley and Deutsche Bank are joint global coordinators and joint bookrunners for the deal.
BNP Paribas, Jefferies International and UniCredit CIB are also joint bookrunners.
Reporting by Elisa Anzolin, writing by Stephen Jewkes