MILAN (Reuters) - Italian group Maggioli, which provides digital solutions for public authorities, is working with Mediobanca and Intesa Sanpaolo (BIT:ISP) to list on the Milan bourse, as it aims to grow through acquisitions, two sources said.
The launch of the initial public offering (IPO) could be as early as next month, the sources said.
The offer would likely comprise 100 million euros ($110 million) of new shares and a smaller amount of existing shares and could give the group a valuation as high as 400-500 million euros after the capital increase, one of the sources added.
Anchor investors could be brought in on the deal, he added.
The family-owned group will be listed on Euronext Growth Milan, a market dedicated to small and medium-sized enterprises with minimum access requirements, which allows a faster listing process, the sources added.
Maggioli was not immediately available for comment.
The family-owned group, which is based in the Emilia-Romagna region and has some 2,800 employees, reported 244 million euros of revenues in 2021.
The group, whose focus is on digital services and solutions for local and central public administration, sees growth opportunities as Italy taps into European recovery funds dedicated to boost digitalisation in the country. ($1 = 0.9084 euros)