June 15, 2020 / 12:27 PM / a month ago

Italy's GVS IPO price guidance revised at 8-8.15 per share from initial 7-8.30

MILANO, June 15 (Reuters) - Italian filter maker GVS is expected to price its initial public offering (IPO) in the upper half of the range, one of the bookrunners said on Monday.

The price guidance has been revised to 8-8.15 euros per share from the initial level of 7.0-8.3 euros per share with the order books “covered throughout the revised range”, the bookrunner said in a message sent to investors, seen by Reuters.

At the revised price level, GVS would debut on June 19 with a market capitalisation of around 1.4 billion euros.

The offer will end tomorrow.

GVS is poised to be the first Milan listing on the main market so far this year.

Mediobanca and Goldman Sachs International acted as global coordinators for the IPO.

Reporting by Elisa Anzolin, editing by Gianluca Semeraro

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