EuroGroup Laminations to launch Milan IPO next month

MILAN (Reuters) -Italy's EuroGroup Laminations plans to launch an initial public offering (IPO) on the Milan bourse as early as next month, as the manufacturer of electric motors components looks to speed up its expansion plans.

The group said in a statement on Thursday that the initial public offering (IPO), which is expected to start next month, would consist of newly issued shares worth up to 250 million euros ($270 million) as well as existing shares offered by several shareholders including a vehicle of French private equity group Tikehau Capital.

The company is targeting a float of 30% to 40% to raise some 400 million euros in proceeds, a source told Reuters last week.

EuroGroup, which produces rotors and stators for an array of applications such as vehicles and home appliances, said the IPO's final structure would be disclosed before its launch.

EuroGroup expects Euro Management Services to remain the controlling shareholder after the offering, whose proceeds will be used to expand its production capacity, geographical footprint and to grasp potential M&A opportunities.

JPMorgan, BNP Paribas, Intesa Sanpaolo and UniCredit are global coordinators and joint bookrunners, while Rothschild is acting as financial adviser.

($1 = 0.9261 euros)

(Reporting by Federico Maccioni, editing by Gianluca Semeraro and Jason Neely)