(Adds background)
LONDON, Feb 6 (Reuters) - Investors vying for a slice of
Italian industrial company EuroGroup in its initial public
offering (IPO) have been told to place orders in the top half of
the proposed price range to avoid being outbid, a bookrunner
note said on Monday.
Orders below 5.50 euros ($5.91) per share risk missing out
because indicated investor demand exceeds the transaction size,
the note said. The company had set a price range of between 5
euros and 6 euros per share.
EuroGroup is among the first European businesses to go
public this year and its IPO is seen as a test for wider market
appetite.
The company is looking to raise up to 448 million euros
($480.6 million) through the sale of new and existing shares,
representing a free float of just under half the company's
stock.
Books are due to close by end of business on Tuesday, with
its debut on the Milan bourse scheduled for Friday.
Shareholders Euro Management Services and French private
equity firm Tikehau Capital are reducing their stakes
through the offering.
($1 = 0.9321 euros)
(Reporting by Pablo Mayo Cerqueiro
Editing by David Goodman)
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