MILAN (Reuters) - Italian refrigeration group Epta will halt plans to list on the Milan stock exchange until September, three sources with knowledge of the matter told Reuters on Wednesday.
At the beginning of June, two sources told Reuters the group owned by the Italian families Nocivelli and Triglio Godino was weighing an initial public offering (IPO) before August.
Due to market volatility, the company has chosen to delay its IPO, the sources said.
“For the time being, the group’s listing has been frozen”, one told Reuters.
The company, which in December said it had acquired three companies, is not in a hurry to raise funds, that source said, adding it did not want to run the risk of being penalised in terms of valuation in current volatile financial markets.
Rothschild is acting as adviser to Epta on the potential IPO, while JP Morgan, Morgan Stanley, Mediobanca and BNP Paribas could also have a role in the listing, one of the sources told Reuters.
Reporting by Francesco Zecchini; Editing by Mark Potter
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