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October 9, 2019

Italy’s Newlat sets IPO price range

Italy-based dairy, bakery and pasta supplier Newlat, owned by the Mastrolia family, has set the range for its planned share offering.

By Leonie Barrie

Italy-based dairy, bakery and pasta supplier Newlat, has set the range for its planned share offering.

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The range for its IPO, which values the company at up to EUR197m (US$216.4m), is EUR5.80-7.30 per share.

The offer, reserved to institutional investors, will consist of 17 million new shares.

Newlat will trade post-IPO on the Milan-based Borsa Italiana’s electronic shares market, the Mercato Telematico Azionario.

Newlat, which owns a range of food businesses that include dairy brand Polenghi Lombardo and pasta label Delverde, said the IPO’s proceeds would be used for mergers and acquisitions. The company has already identified some potential targets in Europe, in the pasta and bakery products sector and in the dairy industry.

The company, also one of the main baby-food manufacturers in Europe, wants to use the proceeds to increase efficiency and to make acquisitions, with an increasing its presence internationally.

Earlier this year, Newlat, fully-owned by the Mastrolia family, snapped up Italian pasta brand Delverde from Argentinian food company Molinos Rio de la Plata.

Following the IPO, Angelo Mastrolia, Newlat’s founder, president and CEO, will remain the company’s majority shareholder.

The business generated sales of EUR305m in 2018. The company has ten factories and one in Italy. As well as Delverde, Newlat’s brands include Giglio cheese and Birkel pasta.

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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