Nuovo Mercato sees first ECM deal for two years.

Financial News, September, 2003

Byline: Shanny Basar

Tiscali, the Italian internet service provider, has launched a [euro]200m ($219m) convertible bond which is the first equity capital markets transaction from a company listed on the Nuovo Mercato, Borsa Italiana's growth segment, in over two years.The last ECM deal on the Nuovo Mercato was the flotation of Esprinet, an Italian computer manufacturer, in July 2001 according to Dealogic, the investment banking research firm. IntesaBci led the [euro]17.5m intial public offering.

Goldman Sachs and Unicredit Banca Mobiliare (UBM) are joint bookrunners and lead managers of the Tiscali bond. When Tiscali floated in October 1999, ABN Amro Rothschild and Banca d'Intermediazione Mobiliare IMI led the IPO.

Goldman has also jointly...

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