Private equity-backed Italian digital television group DMT has seen its share price drop on its first day of trading in Milan. Italian private equity group Convergenza and Banca Intesa are among the company’s shareholders. Financial details of the original investment in the company were undisclosed.
DMT’s IPO was less than fully subscribed after its close and its share price fell 8% when trading began. DMT issued a total of four million shares, against an initial 5.2 million and at a price of €21, against the 20.80 to 26.30 range set ahead of the IPO.
A spin-off of Elettronica Industriale, DMT is a technological operator, which produces and operates analogue and digital equipment for the broadcasting industry.