Egyptian tycoon Naguib Sawiris speaks during an interview with Reuters at his office in Cairo November 14, 2013. CREDIT: REUTERS
Italian internet company Italiaonline is gearing up to list on the Milan stock market with a valuation, excluding a planned capital increase, of between 250 million and 300 million euros ($382 million), the company said on Thursday.
The valuation reflects a price range of 5 to 6 euros per share, it said.
The company, controlled by Egyptian tycoon Naguib Sawiris, said in a statement it had just received the green light from the Milan bourse for its initial public offering.
Banca IMI and Barclays are global coordinators of the offer, it said.
Italiaonline, which runs web portals Libero and Virgilio, has an annual turnover of around 100 million euros according to its website.
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