Giochi nears float, acquisition?

News

Ronnie Dungan Mar 28 2008, 12:56pm

Giochi Preziosi is thought to be near to completing plans for an IPO later this year.

The firm stated last year that it would be looking for a flotation on the Bourse and it is thought that it will take place in the next few months.

The firm is also eyeing acquisitions in order to expand its international reach, VP Sergio Sambonet said. "We're looking at England, in particular," he stated, adding that they were also looking for a partner in Eastern Europe.

The firm has previously been linked with an acquisition of Flair.

"We've been getting ready for some time, because we know (a listing) is a difficult challenge," Enrico Preziosi added.

The firm has enjoyed huge success with its Gormiti range of collectible figures, which has sold 20 million pieces, and is now distributed by Flair in the UK.

Sambonet, who represents 3i in Italy and acts as vice chairman of Giochi, said last year that the company would likely list 30 per cent of its stock in an initial public offering (IPO) that could value all of Giochi at about €1bn.