Board of pencil maker DOMS approves IPO
DOMS approved an initial public offering (IPO), Italian pencil maker Fabbrica Italiana Lapis ed Affini SpA (Fila) which holds 51 per cent in DOMS said on Friday. Fila has committed to offer 90 million euros worth of DOMS shares for sale while still remaining the company's single largest shareholder post IPO. The listing is expected to close by the end of the year, Reuters reported citing the Italian pencil maker.
Earlier in April, news agency Bloomberg reported that Indian stationary maker, DOMS was planning to file as soon as June for an initial public offering in Mumbai that could raise $200 million to $300 million. Doms traces its roots to 1975 with the founding of pencil manufacturer R.R. Industries, the flagship firm of RR Group, according to its website.
RR Group launched the stationary brand Doms in 2006 and later consolidated its operations based in Umbergaon and renamed as Doms. The company runs more than 15 production facilities in India and its products, including pencils, erasers and rulers, are available in over 50 countries. Fila, which makes Giotto coloring pencils and Canson papers, first bought an 18.5% stake in Doms for €5.4 million ($5.9 million) in 2012.
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