MILAN : Italian gaming group Sisal said on Tuesday it had filed for an initial public offering (IPO) to list its shares on the Milan Stock Exchange.

Sisal, which was bought by CVC Capital Partners in 2016, said IPO would consist of shares sold by the private equity firm.

Two sources told Reuters last month that the IPO was expected in the first quarter of next year.

Sisal, which gets most of its revenues from Italy, has expanded abroad, obtaining concessions for retail and online gaming business in Turkey, Morocco and Spain. The group is also in the race to run the UK National Lottery.

Sisal’s IPO filing follows the announcement of listing plans by make-up supplier Intercos, pointing to a revival of new listings on the Milan bourse where only three companies debuted on the main market so far this year.

Heating solutions group Ariston Thermo and Eni’s retail and renewable business unit are also planning to go public in the few next months.

Deutsche Bank Equita SIM, J.P. Morgan and UniCredit Corporate & Investment Banking are the global coordinators in Sisal’s IPO, while Lazard is the company’s financial adviser.

(Reporting by Elisa Anzolin, editing by Jane Merriman)

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