Italian retailer OVS sets price range for Milan listing

MILAN, Italy - Italian fashion retailer OVS SpA has set the price range for its listing on the Milan stock exchange at 4.00-5.40 euros per ordinary shares as the market regulator cleared its initial public offering, it said in a statement on Thursday.

According to documents by one of the deal's joint global coordinators, OVS plans to list 40-50 percent of its capital to raise up to 400 million euros in a bid to cut debt.

OVS, which is expected to have posted sales of 1.2 billion euros last year, is part of the Coin group which was taken over by private equity firm BC Partners in 2011.

€1 = $1.13/£0.74