March 17, 2014 / 1:25 PM / 4 years ago

IPO could value Anima Holding at up to 1.3 bln euros-Banca IMI

MILAN, March 17 (Reuters) - Italy’s Anima Holding, which controls fund manager Anima SGR, could be valued at up to 1.3 billion euros ($1.8 billion) after an initial public offering of up to 55 percent of the company, according to a report for investors by Banca IMI, one of the joint global coordinator of the share sale.

The report, seen by Reuters, puts the equity value - excluding debt - of Anima Holding at 1.057-1.306 billion euros.

Anima Holding started the pre-marketing of the IPO on Monday, with a listing expected in April.

The fund Anima SGR is Italy’s No.4 asset manager behind Generali, Intesa Sanpaolo and UniCredit . It had 47 billion euros of assets under management at the end of 2013.

If the whole 55 percent stake is floated, private equity fund Clessidra will sell around 24 percent of Anima through the holding Lauro Quarantadue. Shareholder Banca Popolare di Milano will sell 16 percent and Monte dei Paschi di Siena 10 percent, according to a source close to the matter.

Another 4 percent would be sold by Prima Holding, which brings together some of Anima’s shareholders and managers.

UBS, UniCredit and Goldman Sachs are the other joint global coordinators of the offer.

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