March 22, 2017 / 9:33 PM / 5 months ago

BFF to seek valuation of up to 1 bln euros in IPO

MILAN, March 22 (Reuters) - 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 billion).

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

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