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July 7, 2021, 12:41 p.m. EDT

Stevanato Group sets IPO terms, which could value the profitable company at more than $7 billion

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By Tomi Kilgore

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%.

/zigman2/quotes/227983090/composite
US : U.S.: NYSE
$ 15.14
-0.18 -1.17%
Volume: 294,640
May 16, 2022 4:01p
P/E Ratio
25.27
Dividend Yield
N/A
Market Cap
$4.01 billion
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 30.76
+1.15 +3.88%
Volume: 100.00
May 17, 2022 9:30a
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/zigman2/quotes/208576341/composite
US : U.S.: Cboe BZX
$ 40.39
+0.89 +2.25%
Volume: 6,560
May 17, 2022 9:34a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,067.32
+59.31 +1.48%
Volume: 123.03M
May 17, 2022 9:34a
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