January 26, 2016 / 12:38 PM / 2 years ago

Italy's De Nora to list up to 45 pct in Milan IPO -CFO

MILAN, Jan 26 (Reuters) - Italian electrochemical technology provider De Nora is looking to list up to 45 percent of its capital in an initial public offering before summer, its CFO told Reuters.

The company has lined up UBS, Deutsche Bank and UniCredit as global coordinators to lead its listing on the Milan Stock Exchange.

“The market float will be fairly substantial, at around 35-45 percent,” Matteo Lodrini said.

De Nora designs and produces metal-coated titanium electrodes, coatings and technologies used in such things as circuit boards for smartphones and mobile telephones.

It is unclear what sort of welcome investors will give stock market debuts in the coming months, as a combination of factors, including falling oil prices, have meant a poor start to the year for European and global stock markets.

De Nora CEO Paolo Dellachà told Reuters in October that the company was considering an IPO and would close 2015 with pro-forma revenue “just below 500 million euros”.

Reporting by Elisa Anzolin, additional reporting by Emiliano Mellino; editing by Jason Neely

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