- Price range said to be announced as early as this week
- Tire maker’s IPO could be the biggest in Europe this year
Pirelli & C. SpA , the tire maker that supplies Formula One race cars, is seeking an equity valuation of as much as 9 billion euros ($10.8 billion) in its initial public offering, implying a trading multiple in line with Finnish peer Nokian Renkaat Oyj, people familiar with the matter said.
The Italian company will present details of its IPO, including a price range, as early as this week and plans to begin trading in Milan in the first week of October, said the people, who asked not to be identified as the details are private. The company has received strong demand from investors and is in talks with larger funds interested in becoming anchor investors for the deal, they said.
If it achieves a similar value to Nokian, Pirelli could become the…