MILAN – The Italian payment company Nexi has raised 2 billion euros with the sale of shares in Milan. The stock trading starts next Tuesday. It is the largest IPO in Europe since the beginning of this year.
The issue price was 9 euros per share. The valuation of Nexi is 7.3 billion euros, including debt. The shares have been sold to investors worldwide, including many Italian investors. The company’s investors include parties such as Advent International and Bain Capital.
The proceeds will largely be used to lower debt. Nexi is Italy’s largest payment service provider, with activities in areas such as payment cards and digital money transfer services.
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