Prysmian, the Goldman Sachs-backed cable company once owned by Italian conglomerate Pirelli, has completed a Milan market listing, allowing the US bank to realise a five-times return less than two years after buying the business.

Prysmian shares were priced at €15, the midpoint of the flotation range of €13.25 to €16.75, raising €1.1bn ($1.5bn), although this could increase to €1.21bn if an over-allotment option is sold.