MILAN, March 15 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
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
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)