Italian credit management company Generalfinance plans to list in Milan
MILAN (Reuters) – Italian credit management company Generalfinance said on Wednesday it plans to list on the Milan bourse, with an initial public offer expected to start in June.
The group, which provides financing to small and medium businesses, will offer both newly-issued shares and existing ordinary shares. An over-allotment option and a lending option will be granted to cover any over-allotments.
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“The company expects to use the proceeds to support its growth objectives, focues on increasing its turnover and strengthening it capital ratios, with the aim of improving its cost of funding and risk profile,” the group said in a statement.
Banca Akros and Intesa Sanpaolo – IMI Corporate and Investment Banking will act as joint global coordinators and joint bookrunners. Ceresio SIM will act as lead manager.
($1 = 0.9512 euros)
(Reporting by Francesco Zecchini, editing by Giulia Segreti)