Pirelli has handed Gerardo Braggiotti, the former head of Lazard in Italy, his first flotation mandate since he set up his own boutique last year. He will advise on the €400m ($478m) initial public offering of the company's tyre manufacturing arm.

Italian daily Finanziari Mercati reports that the float of Pirelli Tyre Holding could value the company at about €2.5bn.

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Pirelli hands Braggiotti first IPO

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