Mask Maker GVS Surges in Milan Debut After $558 Million IPO
- Stock climbs as much as 19% from 8.15 euro IPO price
- Founders Scagliarini family rakes in proceeds of $466 million
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GVS SpA, which makes biohazard masks and filter components for ventilators, gained as much as 18% in its Milan trading debut as investors bet on its business being boosted by the coronavirus pandemic.
The stock rose 19% to 9.68 euros a share at 9:59 a.m. on Friday after the company raised about 497 million euros ($558 million) in its initial public offering at 8.15 euros a share. There was enough demand for six times the shares on offer in the IPO, according to the pricing statement.