Sisal set for IPO on Milan Stock Exchange
CVC-owned operator to list shares for Italian and foreign investors as it takes steps to become a public company
Italian operator Sisal has filed for an initial public offering (IPO) which would see the firm list its shares on the Milan Stock Exchange.
The firm has asked Consob, the regulatory body for Italy’s stock exchange, to authorise the publication of an initial information prospectus ahead of a potential listing.
Sisal plans to list its ordinary shares on the Mercato Telematico Azionario (MTA) subdivision of the Milan Stock Exchange.
Sisal said the initial placement of its shares would be aimed “exclusively at institutional investors in Italy and abroad”.
Sisal is owned by CVC Capital Partners, with the IPO consisting of shares sold by the private equity giant.
Deutsche Bank, Equita SIM, JP Morgan and UniCredit Corporate & Investment Banking are serving as joint global coordinators and bookrunners for the placement.
Bermuda-headquartered Lazard is acting as Sisal’s financial advisor, while Latham & Watkins is the group’s legal advisor.
The IPO will be subject to market conditions and an admission judgment by the Milan Stock Exchange, as well as authorisation of the prospectus by Consob.