LONDON - The Italian asset manager Anima said on Friday that it raised 692.5 million euros, or about $961.5 million, in an initial public offering.
Anima priced its offering near the top of the expected range at €4.20 a share, giving it a market capitalization of €1.26 billion. The company had expected to price its I.P.O. between €3.50 to €4.50 a share.
The asset manager begins trading on the Borsa Italiana on Wednesday. Demand was more than five times the offer.
The offering is the latest in a series of European market debuts this year, fueled in part by private equity firms looking to exit potential companies amid buoyant stock markets.
Anima is owned by the Italian private equity firm Clessidra and the Italian banks Monte dei Paschi di Siena and Banco Popolare di Milano. They are expected to remain shareholders in Anima following the float.
The book runners on the offering are Goldman Sachs, Banca IMI, UniCredit and UBS.
