March 5, 2020 / 5:27 PM / in 24 days

Italy's SIA hires JPMorgan to advise on options, including IPO

MILAN (Reuters) - SIA has hired JP Morgan as financial adviser for any extraordinary operations, including a possible stock market listing, the Italian payment services group said on Thursday.

The group had said in February that it had started preparations for a listing that was expected to take place by the summer, adding however that it did not rule out a tie-up with another payments firm as an alternative.

SIA, controlled by state lender CDP, reported a 19.3% increase in revenues for last year, to 733 million euros.

It said core earnings were up 28.1% in 2019 to 257.9 million euros.

The payments firm said it planned to pay 60 millions euro in dividends.

Reporting by Elisa Anzolin; editing by Valentina Za

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