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Italy's GranitiFiandre is a leading manufacturer of indoor tiles. It operates in the heart of Italy's ceramics manufacturing region and belongs to the Iris group, Europe's second-largest tile maker in terms of sales. GranitiFiandre dominates a highly profitable niche market and has an outstanding market position.
On 28 May it launched a global offering for the sale of around 13.3 million newly issued shares. Trading in the shares has commenced on the Star segment of the Milan Stock Exchange. Free float accounts for some 37% of the company's capital stock.
The sale comprised a retail offering in Italy and an offering to institutional investors in Europe. The offering was around two times oversubscribed at an issue price of EUR 8.00 per share. BNP Paribas acted as sole bookrunner and joint-global coordinator together with Abaxbank.

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