MILAN, March 22 BFF Banking Group said it
planned to sell up to 35.8 percent of its capital starting from
Thursday in an initial public offering on the Milan bourse that
values the factoring company at up to 1 billion euros ($1.1
BFF Banking Group, which operates in Italy, Poland, Czech
Republic, Slovakia, Spain and Portugal, buys at a discount bills
that suppliers issue to the public administration, effectively
providing credit to these companies.
BFF said in a statement it had received on Wednesday a green
light from Italian market regulator Consob to its share offer
which was reserved to institutional investors and would run
until April 4.
It plans to offer shares at a price of between 4.7 euro and
5.9 euros each.
($1 = 0.9264 euros)
(Reporting by Valentina Za; Editing by Toby Chopra)