Pirelli launched its initial
public offering on Monday.
The IPO will run until September 38 with a price range of
6.30 and 8.30 euros each, valuing the company at between 6.3
billion euros and 8.3 billion euros.
Banca IMI's Marco Graffigna, who handled the IPO, said the
tyremaker is set to return to the Milan stock exchange on
October 4.
As part of the operation, the controlling China National
Chemical Corp (ChemChina) is set to take its stake below the 50%
threshold
Pirelli was delisted from the Milan bourse in 2015 after a
mandatory offer launched by an investment company controlled by
ChemChina.
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