Intercos prices IPO for €1.3 billion valuation

Intercos prices IPO for €1.3 billion valuation

THE WHAT? Intercos has set the offer price range for its shares at between €12 and €14.50 as it prepares to list on the Italian Bourse, according to a report published by WWD, giving the contract manufacturer a valuation of between €1.1 billion and €1.3 billion.

THE DETAILS The offer period commenced on October 21, following the approval of Intercos’ prospectus from CONSOB, and is slated to end on October 28, 2021, with trading on the Mercato Telematico Azionario due to start on November 2.

THE WHY? Intercos planned an IPO in 2020 but postponed due to the pandemic. The net proceeds from this capital increase are earmarked to fund the development of the business and support the implementation of its strategic goals, per WWD.