ITALY - Cape Live Investment fund to float on 19 July

Cape Listed Investment Vehicle in Equity (Cape Live) is to list up to 40 million shares as part of a capital increase on the Milan Stock Exchange. Trading is expected to start on 19 July, at an issue price of EUR 1.05 per share. From 2 July to 13 July 23 million of the total 40 million shares will be offered to retail and institutional investors. 30% of these or 6.90 million shares are to be offered to the general public in Italy, while the remaining 16.1 million shares will be placed with institutional investors. Centrobanka is acting as the lead manager for the IPO with Centrosim as co-lead manager.