Fitness equipment manufacturer Technogym, which is headquartered in Italy, has announced today (21 April) that it will debut on the Milan Stock Exchange on 3 May 2016.

Having filed the admission request to CONSOB (the Italian National Commission for Companies and the Stock Exchange) on 26 March, Technogym has confirmed that CONSOB approved the registration documents yesterday (20 April).

Salhouse Holding – a vehicle of Arle Capital, a minority shareholder in Technogym with 40 per cent of the company’s capital – intends to sell 50 million shares. It has granted the joint global co-ordinators an option to purchase up to 7.5 million additional shares under the greenshoe provision.

The 57.5 million shares correspond to 28.75 per cent of the total share capital of Technogym. The Alessandri family will retain the majority of 60 per cent share capital.

The price range has been set at €3.00–3.75 per share.

The offering to institutional investors will end on 28 April 2016, with Technogym then making its debut on the Milan Stock Exchange on 3 May.

“I believe that wellness represents a current economic mega-trend and a social opportunity for governments, operators and citizens,” said Technogym founder Nerio Alessandri in a statement.

He added: “At Technogym, we believe our IPO will help us strengthen and consolidate our managerial culture and support our international growth strategy.”