Italian Int'l Films headed for stock exchange
Company has annual revenue of about $78 milROME -- Italian International Films, one of Italy's oldest film production houses, is again preparing to list its shares on the Italian Stock Exchange, five months after weak economic conditions in Italy forced the 50-year-old company to abandon IPO plans.
The company, still headed by founder Fulvio Lucisano, is behind some of the biggest hits in Italian cinema in recent years, including the smash "Notte prima degli esami" (Night Before Finals), Italy's top-grossing motion picture two years ago, and its successful sequel "Notte prime degli esami 2."
The company, best known as IIF, has annual revenue of about 55 million euros ($78 million) from both film production and distribution and the operation of 80 cinemas in Italy.
IIF originally filed for the IPO with stock market regulator Consob late last year. Because of the delay, it will have to refile the same paperwork again this time around. Consob said that IIF will be among a small handful of companies in the Italian film sector to list its shares on the Milan-based bourse.