October 17, 2019 / 6:06 PM / a month ago

Italy's Newlat upbeat about IPO despite market upsets

MILAN, Oct 17 (Reuters) - Italian food group and IPO candidate Newlat is confident its stock offering will go ahead successfully despite two share sales by Italian groups being pulled on Thursday, its chairman said.

“I am very optimistic about the success of Newlat’s IPO,” Angelo Mastrolia told Reuters on Thursday.

He said books for the offer, which ends on Tuesday, were not fully covered yet but that they had drawn orders by international institutional investors.

“The price for our share sale offers a discount compared with peers,” he said.

Earlier on Thursday, yachtmaker Ferretti and professional audio equipment maker RCF both scrapped their respective IPOs citing difficult market conditions.

Reporting by Francesca Landini, writing by Silvia Aloisi

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