RIYADH: Ariston Holding NV and its shareholders are seeking to raise €888 million ($1 billion), which could be Italy’s largest initial public offering in two and a half years, Bloomberg reported. The shares will be marketed from Thursday at €10.25 ($11.59) to €12 ($13.57) per share, with the Italian heating company targeting proceeds of around €300 million ($339 billion). An additional 49 million shares will be sold by shareholders Merloni Holding SpA and Amaranta Srl through a secondary offering. The price range indicates a market value of €3.9 billion ($4.4 billion) for the company, according to Bloomberg. Ariston’s IPO is set to be the biggest in Milan since payment-services firm Nexi SpA’s €2 billion listing in April 2019. The offering will run through Nov. 24, with the first trading day set for Nov. 26.