Italy’s De Nora bets on cornerstone investors to defy IPO drought

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Reuters UK

By Francesca Landini and Lucy Raitano MILAN (Reuters) -Italy’s Industrie De Nora is counting on cornerstone investors to defy volatility that has inhibited several initial public offerings in Europe this year. The electrode maker said on Monday it was seeking a valuation of up to 3.28 billion euros ($3.45 billion) in its IPO, which will be the first major listing in Milan since Russia invaded Ukraine on Feb. 24. The transaction is expected to start on June 22 and could be completed at the beginning of next week to reduce the impact of market turbulence to a minimum, two sources with knowledge …

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