Italy's Technoprobe eyes valuation of up to 3.8 billion euros in IPO

MILAN - Italy's Technoprobe said on Thursday it would price its shares between 5.40 and 6.30 euros each in an initial public offering valuing the microelectronics company up to 3.8 billion euros ($4.35 billion).

The company, one of the world largest manufacturers of so-called probe cards used for testing non-memory chips, said it would float 20.8% of its share capital on Euronext Growth Milan.

The offering is expected to close by the end of February, according to the statement.

The family-owned group said the offer would consist of 25,000,000 new shares and 88,000,000 shares currently held by the Crippa family.

Mediobanca and Intesa Sanpaolo will act as joint global coordinators and joint bookrunners for the listing.

($1 = 0.8740 euros)