Electrode maker De Nora ‘not afraid’ about volatility as it braves IPO

De Nora was founded in 1923 and specializes in electrode and water treatment technologies.

Pavlo Gonchar | LightRocket | Getty Images

The CEO of electrode maker Industrie de Nora says she is “not afraid” of the current market turmoil as an IPO is expected this week.

Tuesday’s initial public offering was priced at €13.50 per share, valuing the Italian company at €2.723 billion, or $2.88 billion.

“It was the right time for us, we have a great equities story, so for us… it’s the beginning of a new journey, and we are not afraid of the current market turbulence,” said CEO Paolo Delacha. told CNBC’s Juliana Tatelbaum. “We have an industrial plan to execute.”

The company is scheduled to begin trading on Euronext Milan on Thursday, which will be Europe’s first major IPO since the war in Ukraine broke out.

It comes at a volatile time for markets with pan-European Eurostocks 600 Down more than 14% compared to the year so far. Traders are reacting to both the Ukrainian conflict and its global impact, as well as a more aggressive rate hike policy by the US Federal Reserve and other central banks around the world.

De Nora, which is based in Milan, was founded in 1923 and specializes in electrode and water treatment technologies.