Italy's Sanlorenzo prices IPO at 16 euros/share

© Reuters. Italy’s Sanlorenzo prices IPO at 16 euros/share

MILAN (Reuters) – Italian yacht maker Sanlorenzo said on Friday it priced its shares at 16 euros each in its initial public offering (IPO), bringing the company’s market capitalisation to 552 million euros (474 million pounds), including 72 million euros capital increase.

The share sale was closed on Thursday and two thirds of the demand came from international investors, a group statement said.

If the greenshoe option is exercised in full, the free float will be 35.1% of the company’s share capital, the statement added.

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