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MILAN, May 15 (Reuters) - Italian coffee company Massimo Zanetti Beverage Group will list a stake of up to 35.6 percent on the Milan bourse in an initial public offering that could value the group at 540 million euros ($618 million), it said on Friday.
Massimo Zanetti, which owns more than 20 coffee brands, including Italy's market leader Segafredo Zanetti, will be the first coffee maker to be listed in Italy.
Investors will be offered up to 11 million new and existing Massimo Zanetti shares at 11.60-15.75 euros each from Monday to May 28, the company said in a statement issued after approval of the listing by Italian market regulator Consob.
The indicative price range values the company at up to 441 million euros, or 540 million euros including the proceeds from the sale of new shares in the offering, it said.
The share offering comes as the global coffee business undergoes a spate of deals, fuelled in part by the rise of single-serve capsules and consumers' growing taste for higher quality drinks.
Massimo Zanetti, which produces 120,000 tonnes of coffee a year, generates 90 percent of its sales abroad and offers a variety of products from mass market packs to coffee pods.
Banca IMI and BNP Paribas are the IPO's global coordinators.
$1 = 0.8732 euros Reporting by Francesca Landini and Danilo Masoni; Editing by Elaine Hardcastle