November 27, 2019 / 8:00 AM / 14 days ago

Italy's Elesta considering IPO in H1 2020 -El.En. chairman

ROME, Nov 27 (Reuters) - Italian laser equipment maker El.En. said on Wednesday its 50%-owned company Elesta was considering an initial public offering in the first half of 2020.

“The Elesta IPO will not have any impact on our 2019 guidance and most likely on the 2020 guidance, (it) will not be affecting our consolidation perimeter and the group’s financial position,” El.En. Chairman Gabriele Clementi said in a statement.

Elesta develops medical devices for percutaneous or endoscopic treatment techniques and posted revenue of 3.1 million euros in 2018.

El.En. owns 50% of Elesta. Other shareholders are foreign investors and the company’s management, the statement added.

Reporting by Giulia Segreti, editing by Gianluca Semeraro and Jason Neely

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