Italy’s largest gambling group Lottomatica is seeking a valuation of up to 2.67 billion euros ($2.93 billion) as it prepares to list its shares in Milan, riding a market rebound after recent turmoil.
Lottomatica, one of the few European companies pressing on with listing plans after a crisis of confidence in the banking system rocked global markets, on Thursday said it would sell shares priced at between 9 and 11 euros each.
The offer will run from April 24 to April 27.
The group owned by U.S. fund Apollo Global Management (APO.N) said it would use part of the proceeds of up to 600 million euros from its initial public offering (IPO) to repay a 250 million euro loan from its owner.
