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Italy's Leone Film Group to seek a few dollars more on main market
March 22, 2017 / 6:52 PM / 6 months ago

Italy's Leone Film Group to seek a few dollars more on main market

ROME, March 22 (Reuters) - Spaghetti Western pioneer Sergio Leone’s film group aims to move to Milan’s main stock market from the alternative investment segment by the end of the year in a bid to boost its share price, its chief executive told Reuters.

The group, founded by “The Good, the Bad and the Ugly” director, debuted on the AIM market for smaller companies in 2013 and is now looking for better returns on the main bourse.

Andrea Leone, Sergio’s son and company chief executive, said the group would need to boost its floating capital a little to reach the entry threshold for the MTA market, and its advisers were looking at options including a reserved capital increase.

“We hope that the shares will reach their deserved value” on the main market, Leone said. He added that shares in a capital increase would probably be put on sale for about 4 euros each, valuing the company at about 60 million euros ($65 million).

Shares in Leone Film Group, which distributed box office hit “La La Land” in Italy this year, closed down 1.35 percent at 3.65 euros on Wednesday. ($1 = 0.9251 euros) (Reporting by Isla Binnie, editing by Valentina Za)

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