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Italy's Rottapharm sets IPO price range at 7.25-9 euros/shr
July 1, 2014 / 5:30 PM / 3 years ago

Italy's Rottapharm sets IPO price range at 7.25-9 euros/shr

MILAN, July 1 (Reuters) - Italian pharmaceuticals company Rottapharm said on Tuesday it would offer 50 million shares, or 25 percent of its capital, in its initial public offering at a price of 7.25-9 euro per share.

The offer includes the option to sell an additional 10 million shares, it added.

The price range would value the company, controlled by Italy’s Rovati family, at between 1.45-1.8 billion euros ($2-2.46 billion), Rottapharm said in a statement, adding that market regulator Consob had approved the firm’s listing prospectus.

Three sources close to the matter have previously told Reuters the group aimed to float a 40 percent stake in an IPO that would value it at up to 2.2 billion euros. ($1 = 0.7331 Euros) (Reporting by Paola Arosio; Writing by Oleg Vukmanovic; Editing by Agnieszka Flak)

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