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Banca Farmafactoring to make market debut with €800M capitalization

Banca Farmafactoring SpA said April 5 that it will have a market capitalization of roughly €800 million when it makes its market debut on Italy's Mercato Telematico Azionario.

BFF Luxembourg Sàrl, which holds 94.196% of the Milan factoring company's share capital, sold 31.16% of its shares through the listing, without considering the exercise of a greenshoe option. Trading is expected to commence April 7.

The offering comprised 530,000 ordinary shares, equivalent to 53 million shares once a 100-for-1 share split takes place on the first day of trading. The shares were sold at €4.70 apiece, generating proceeds of about €250 million, without considering the greenshoe option.

Mediobanca – Banca di Credito Finanziario SpA, Morgan Stanley and Deutsche Bank AG's London branch acted as joint global coordinators and joint book runners. BNP Paribas, Jefferies International Ltd. and UniCredit Corporate & Investment Banking served as joint book runners, while Banca Akros acted as co-lead manager.

Banca Farmafactoring's legal advisers were Gattai Minoli Agostinelli & Partners and White & Case.