(Bloomberg) — Deda Group is exploring an initial public offering that could value the Italian technology firm at more than 1 billion euros ($1.1 billion), according to people familiar with the matter.
The company is in the early stages of preparing for a listing later this year or in early 2023, the people said, asking not to be identified discussing confidential information.
Deliberations are ongoing and no final decisions on the size or timing of any IPO have been taken, the people said. A representative for Deda Group declined to comment.
Russia’s invasion of Ukraine has effectively shut the market for IPOs in Europe, just as its was looking to bounce back from a slow start to the year. While a number of companies continue to ready deals in case markets calm, bankers say volatility will have to come off record highs before listing activity can resume again.
Deda Group provides software and IT services to more than 4,000 clients in over 50 countries, according to its website. The company generated revenue of 253.5 million euros in 2020.
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