Milan, July 24 - Bialetti Industrie's initial public offering (IPO) is oversubscribed, with demand for shares in the company, which makes coffee makers, particularly strong from retail investors, a financial source said on Tuesday.
Demand for the retail portion of the offer is 10 times the shares on offer, the source said. About 10 percent of the offer is set aside for these investors.
Bialetti Industrie was not immediately available to comment.
The company aims to sell as much as 27 percent of its shares to the market in the IPO.
The share offer started on July 16, and will close on July 20. The shares are scheduled to begin trading on the Milan stock exchange on July 27.
The indicative price range has been set at 2.35 euros to 3.15 euros a share, valuing the company at 141 million to 189 million euros ($260.5 million).
The global offer is being coordinated by Unicredit Markets & Investment Banking.