Borsa Italiana has approved two initial public offerings which will be its first flotations since July.

There have only been three IPOs in Italy this year, all of which are trading below their issue price, according to the Borsa Italiana website. The last company to go public was ASM Brescia, the municipal utility, which started trading on July 12. Mediobanca and IntesaBci were joint global coordinators for the €359m ($359.6m) offer, with UBS Warburg joining them as joint bookrunner.