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Report: PE owners target €2B in planned IPO of Italian payments company Nexi

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Report: PE owners target €2B in planned IPO of Italian payments company Nexi

Advent International Corp., Bain Capital LP and Clessidra SGR SpA are looking to raise about €2 billion in the potential IPO of Italy-based payment-services company Nexi SpA, Bloomberg News reported, citing people with knowledge of the matter.

The private equity owners hired Evercore Inc. as an adviser on the planned 2019 IPO, which could value Nexi at about €5 billion to €6 billion, the sources said. However, financial details are yet to be finalized, they added.

The sources told the news outlet that the owners could further add investment banks to handle the sale in the coming months.

Representatives for Nexi, Advent, Bain, Clessidra and Evercore did not comment on the matter.