Stevanato Group SPA /zigman2/quotes/227983090/composite STVN -1.17% has set terms for its initial public offering of shares, with the Italy-based provider of drug containment, delivery and diagnostic services looking to raise $672.0 million. The company is offering 28.0 million shares in the IPO, and selling shareholders are offering 12.0 million shares, for a total offering of 40.0 million shares. The IPO is expected to price between $21 and $24 a share. With 300.43 million shares expected to be outstanding after the IPO, the expected pricing would value the company at up to $7.21 billion. The stock is expected to list on the NYSE under the ticker symbol "STVN." Morgan Stanley, BofA Securities and Jefferies are the lead underwriters. The company recorded a net profit of EUR36.6 million ($43.2 million) on revenue of EUR192.8 million ($227.5 million) during the quarter ended March 31, after a profit of EUR7.2 million on revenue of EUR136.4 million in the year-ago period. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +3.88% has gained 1.9% over the past three months, while the iShares MSCI Eurozone ETF /zigman2/quotes/208576341/composite EZU +2.25% has tacked on 3.6% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.48% has gained 6.8%.