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Pirelli IPO set for October

Milan, Italy — Pirelli & C SpA is moving ahead with plans for an initial public offering on the Borsa Italiana, declaring its intent to sell up to 40 percent of the firm’s equity capital starting in October.

The company, majority owned indirectly by China National Chemical Co. (ChemChina) since late 2015, plans to carry out the IPO in two forms — a public offering in Italy and a global private placement for “qualified” institutional investors, the company disclosed this week.

Pirelli did not disclose any pricing…

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