ordinary shares

The food-and-beverage company—which owns brands like Flora and Napolina—said the initial public offering will be made up of new ordinary shares, with net proceeds being used to fund growth through acquisitions.

The company said its board had approved and would file on Tuesday an application to delist its ordinary shares from Milan bourse.

"The subordinated securities potentially exchange into fully paid ordinary shares of CBA if a non-viability trigger event occurs," the bank said.

GE Capital US Holdings Inc expects to grant the underwriters a 30-day option to purchase up to 4.9 million additional ordinary shares.

The Japanese conglomerate will own 90.6% of Arm's ordinary shares after the offering closes, the company said, adding that it will not receive any proceeds from the IPO.