Italian Design Brands (IDB), a hub of high-quality Italian furniture and design companies, said on Monday it planned to list on Euronext Milan, with an initial public offering (IPO) expected by early May.

The company, whose brands include Gervasoni furniture and Davide Groppi lighting, said in a statement the offer would include newly-issued shares worth 70 million euros ($77 million), as well as existing ordinary shares.

The aim is to achieve a free float of at least 25% of the resulting share capital at the end of the listing, IDB said.
The final structure of the offer will be determined closer to the date of its launch, the company added.