MILAN – Italian Design Manufacturers (IDB) has kicked off the method for a preliminary public providing with the purpose to checklist on the Star section of the Euronext bourse in Milan, it mentioned in a press release on Wednesday.
Based in 2015 to advertise a hub of high-quality Italian furnishings and design firms, IDB has appointed Citigroup and Equita as joint world coordinators and joint bookrunners for the IPO, with Equita performing as sponsor.
The provide is predicted to be accomplished by the primary half of 2023, topic to market situations and regulatory approvals.
The proceeds from the IPO can be used to fund progress, each organically and thru acquisitions, it mentioned.
In 2021, IDB reported a turnover of round 144 million euros ($151 million).
($1 = 0.9515 euros)
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