- Pirelli is the biggest continental European IPO to date in 2017
- The company raised €2.275 billion, valuing it at €6.5 billion
- 30th debut on Borsa Italiana’s markets since the beginning of the year
Today Pirelli & C. debuts on the main market of Borsa Italiana.
Pirelli is among the main tyre makers worldwide. Its production is exclusively concentrated on the consumer segment where Pirelli holds distinctive positioning in High Value tyres, produced to achieve the highest levels in terms of performance, safety, noise emission levels and grip with the road.
Pirelli raised €2.275 billion (€2.6 billion including the full green shoe option) with a market capitalization at IPO of €6.5 billion. Banca IMI acted as sponsor. Banca IMI, J.P. Morgan, Morgan Stanley acted as coordinators of the global sale offering.
Raffaele Jerusalmi, CEO Borsa Italiana, said:
“We are very happy to celebrate Pirelli’s listing today, the most important IPO of the year on the continental European markets. The return of Pirelli to Borsa Italiana has attracted a lot of interest from investors worldwide. Just yesterday Borsa Italiana announced the launch of the Italian Listed Brands showcase which includes Pirelli. 2017 is proving to be a particularly positive year for Borsa Italiana with regards to new listings.”
