Favini Group, an Italian producer of highly specialized papers, filed a request with Borsa Italiana for the admission to list and trade its shares on the Italian Stock Exchange and a request to the Italian financial markets Authority, Consob, for approval of the offering prospectus (download herei the press release).
In 2013 Favini reached consolidated pro-forma revenues of 161.9 million euros (up from 119.2 millions in 2012) and a 16.6 millions ebitda (from 9.9 millions).
The company had been bought at the beginning of 2009 from a bankruptcy procedure by turnaround private equity operator Orlando Italy management (through OI-Paper sa), who now owns a 62 pct stake in the group’s capital, the rest being own by French private equity operator Crédit Agricole Capital Investissement&Finance (21%), by chimical company Lacim srl (13%) and by the management (4%).
As BeBeez already wrote before (see here a previous post of BeBeez), the ipo will me made half by a capital increase and half by a sale of shares owned by actual shareholders, resulting in a more than 50 pct stake of floating capital. There will be no offer to the public. The offer will be made to institutional investors only.
Joint global coordinators are Banca Imi and Intermonte. Intermonte will act also as sponsor. Financial advisor to Favini was Finer srl while legal advisor was Studio Legale d’Urso, Gatti e Bianchi. DLA Piper law firm supported the global coordinators.