June 12, 2020 / 2:36 PM / 20 days ago

GVS's Milan IPO fully covered across price range: market sources

MILANO (Reuters) - Italian filter maker GVS received enough orders from investors to cover its 490-580 million euros initial public offering (IPO) across the entire price range just a few hours after opening the order books, two market sources said on Friday.

Earlier this week the group said it was pricing its IPO at between 7.0-8.3 euros per share, valuing the filter maker at up to 1.45 billion euros ($1.6 billion) after COVID-19 boosted demand for protective masks and filters for medical ventilators.

Reporting by Elisa Anzolin, editing by Maria Pia Quaglia

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