Rome – Italy’s Leone Film Group, the company originally founded by spaghetti western master Sergio Leone, made a positive debut on the Milan stock market Wednesday with an Ipo geared towards becoming a bigger distributor of high-profile Hollywood product in Italy, nearly one year after inking an Italo output deal with DreamWorks.
Now headed by Leone’s children, Andrea and Raffaella, Leone Films bowed on Milan’s small-cap Aim market about two points above its target price, with shares selling just under 5 Euros ($6.87) each.
The Leone heirs are selling a 25% stake in the Rome-based company. They have already raised Euros 16.3 million ($22 million), roughly 70% from Italian investors and 30% from international ones, according to Leone.
Lfg had Euros 6.7 million ($9.2 million) in revenue in 2012.
Now the main goal is to become a “bigger bridgehead between Italy and Hollywood, both as distributors and co-producers,” Leone told Variety.
Leone Film Group’s recently released titles »
- Nick Vivarelli
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