Marazzi Readying for IPO
Sassuolo, Italy, January 26, 2006--Italian ceramics group Marazzi is preparing to list on the Milan stock exchange.
Once final approval is obtained from market regulator Consob, meetings with institutional investors should begin around the end of this month, with a view to floating in the middle of February.
It is thought that around 30 per cent of share capital will be floated, by means of a capital increase and also the sale of two-thirds of the stake held by closed funds Permira and Private Equity Partners.
The impending IPO is not likely to divert the company from its industrial strategy. Michele Preda, Marazzi's CEO, flew to Russia yesterday to officially open a new factory near Moscow. Mr Preda claimed that the factory's cost of 74m euros took Marazzi's total investment in Russia to 180m euros.
Related Topics:Marazzi USA, Mohawk Industries
