Italy's OVS expects to launch IPO in H1 next year

MILAN, Italy - Italian high-street fashion chain OVS said in a statement on Monday that it expected to launch a public offering in the first half of next year.

The company, controlled by Italian retailer Gruppo Coin, initially planned to list the stock between October and November this year.

Lazard is advising on the IPO, while the global coordinators are Italy's Banca IMI, BofA Merrill Lynch, Goldman Sachs International and UniCredit Corporate and Investment Banking.

The clothes, accessories and footwear company will probably only sell new shares, raising money for new shop openings while current shareholders keep their stakes, its CEO said in May.