Tiscali, the Italian internet service provider, has launched a €200m ($219m) convertible bond which is the first equity capital markets transaction from a company listed on the Nuovo Mercato, Borsa Italiana's growth segment, in over two years.

The last ECM deal on the Nuovo Mercato was the flotation of Esprinet, an Italian computer manufacturer, in July 2001 according to Dealogic, the investment banking research firm. IntesaBci led the €17.5m intial public offering.