Pirelli to return to Milan bourse
Italian tyre-maker Pirelli will return to the Milan stock market on October 4, two years after the company was taken over by Chinese investors. The date was announced last month in press conference in Milan by Marco Graffigna of Banca Imi, the financial institution that is preparing Pirelli's IPO. State-owned China National Chemical Corp had acquired a 65 per cent stake in Pirelli in 2015, in a deal that saw one of the former bastions of Italian industry fall into foreign hands. Pirelli, founded 145 years ago, is monopoly supplier to Formula One racing teams.