Italy-based frozen gluten-free products manufacturer FinGelit would be undertaking an initial public offering next year. The IPO would enable the food maker to fund its expansion plans in overseas markets.
In a phone interview with Bloomberg, FinGelit Chairman Mattia Sebastiano Malgara said the company could sell shares to investors by April. He said they also intended to list on the alternative market AIM on the Milan Exchange. The AIM platform is the alternative exchange on the Italian bourse for small and medium-sized firms that have a high potential for growth. If plans for the IPO would push through, FinGelit would become the first European gluten-free food maker on the exchange.
Malgara told Bloomberg that use the proceeds of the IPO to grow on fast expanding markets while capitalizing on new products. He said that the firm intended to list as much as 30% of their capital. Malgara's investment firm 1M Srl holds a 90% stake in FinGelit.
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