Intercos, an Italian multinational that produces cosmetics for many groups in the sector, announces the want to be listed on the Milan Stock Exchange, on the Mta market. The hypo should start by the end of October and will take place with a private placement reserved for qualified investors in the European economic area and in the United Kingdom, for foreign institutional investors outside the United States and, in the United States, only for "qualified institutional buyers".
The IPO of Intercos will be carried out through Opvs, i.e. with “newly issued ordinary shares of the company – reads a note from the group – for a foreseeable total of up to 60 million deriving from a capital increase with the exclusion of option rights”; at the same time, other "ordinary shares will be offered for sale by some current shareholders of the company with a free float above the minimum requirement of Borsa Italiana".
The majority of the shares being sold will be held by Cp7 Beauty LuxCo, a subsidiary of L Catterton, and The Innovation Trust, a subsidiary of the Ontario Teachers' Pension Plan Board.
Also, it is expected that Dario Ferrari "it will maintain control of the company following the offer, also through the adoption of an increased voting mechanism", writes the company.
Finally, Intercos informs that the resources obtained from the capital increase "will be used to finance the development and growth of its business, and to pursue strategic initiatives".
