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Sign of times: Italian face mask manufacturer applied for IPO

The Italian maker of face masks, industrial and respirator filters GVS plans to go to the Milan stock exchange this month. The company intends to raise about 500 million euros with this IPO, writes Bloomberg news agency based on insiders. The IPO of GVS would be the first since the stock market in the southern European country fell sharply in March due to the outbreak of the new corona virus. It is highly symbolic that the first company to run an IPO after the outbreak is the one that makes personal protective equipment.

Due to the pandemic GVS Filter Technology saw the demand for its products increase in recent months. As a result, sales could increase by just over 40 percent this year, to around 320 million euros, the Bologna-based company expects. GVS aims for a market value of at least 1.4 billion euros.

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