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Italy's doBank IPO oversubscribed - sources
July 7, 2017 / 9:40 AM / 5 months ago

Italy's doBank IPO oversubscribed - sources

MILAN, July 7 (Reuters) - Demand for the initial public offering (IPO) of Italian bad loan manager doBank exceeded the amount on offer, two sources said on Friday, a sign of investor appetite for financial stocks.

One of the sources told Reuters the offer had been covered “more than twice”.

A separate source said books for doBank had been covered for “about one and a half times”.

The group said earlier on Friday it expected to close the IPO ahead of time on July 12 rather than July 17.

Trading on the Milan stock exchange is expected to start on July 14.

Reporting by Eliza Anzolin, writing by Giulia Segreti

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