* Italian company's equity value 310-390 mln euros - Nomura
* Market capitalisation seen around 300 mln euros - sources
* Savino is small compared to comparable listed European firms
MILAN, Nov 4 (Reuters) - Italy's Savino del Bene, soon to list on the Milan stock exchange, could be worth between 310 million and 390 million euros ($419 million and $526 million), according to a document from Nomura bank.
This range represents the freight forwarding company's estimated equity value - enterprise value plus cash - based on that of peers in the sector, Nomura said in a report used to market the deal to investors and seen by Reuters.
The Florence-based company transports and warehouses products including food, fuel and fashionable clothing around the world. Its IPO would be only the second in Milan this year after the listing of notebook maker Moleskine.
Two people familiar with the matter said separately that Savino del Bene's whole market capitalisation - the number of shares multiplied by their price - at its forthcoming listing would be around 300 million euros.
The company plans to sell a roughly 31 percent stake in the initial public offering, with its market debut set for Dec. 6.
Nomura, Mediobanca and MPS Capital Services are running the IPO.
In its confidential research document, Nomura used Denmark-listed DSV and Swiss-based Kuehne & Nagel and Panalpina as comparable companies in Europe.
All of these are considerably larger than Savino del Bene, which was delisted by its two shareholders in 2003.
"Savino del Bene is a meaningfully-sized player but small compared to the listed ones," one of the sources familiar with the matter said.
Around 60 percent of the shares to be sold at the IPO will be existing stock held by president Paolo Nocentini and vice president Silvano Brandani, who own 50 percent each. The remaining portion will be made up of new shares.
Nocentini and Brandani are veterans at Savino del Bene, having served 56 and 57 years respectively at the company.
Italy's market regulator Consob said on Monday it authorised the company to publish an IPO prospectus.
Savino del Bene reported earnings before interest and tax of 16 million euros in the first half of this year. Nomura says the company's net profit could grow 6 percent each year between 2012 and 2017, in line with or better than its peers. ($1 = 0.7402 euros) (Reporting by Eliza Anzolin and Isla Binnie; Editing by Ruth Pitchford)