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Italy's Unieuro picks banks for 2017 IPO - sources
December 15, 2016 / 6:25 PM / a year ago

Italy's Unieuro picks banks for 2017 IPO - sources

MILAN, Dec 15 (Reuters) - Italian consumer electronics retailer Unieuro has appointed Mediobanca, Citigroup and Credit Suisse as global coordinators for the initial public offering it plans for the first half of next year, two sources close to the matter said on Thursday.

In the financial year ended Feb. 28, the group posted pro-forma revenues of 1.54 billion euros ($1.6 billion), up from 1.37 billion euros.

In the same period operating profit rose to 42.8 million euros from 24 million euros and net profits came in at 10.6 million euros from a 2.5 million euro loss.

British retailer Dixons, which sold the majority of Unieuro in 2013, still holds a 15 percent stake in the group.

The retail chain is now majority owned by Venice Holdings, whose shareholders are private equity firm Rhone Capital and Italian family Silvestrini. ($1 = 0.9603 euros) (Reporting by Elisa Anzolin, writing by Francesca Landini)

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