The move is a sign of Piaggio & C SpA's return to health after being rescued from the verge of collapse by Roberto Colaninno, the former Telecom Italia chief executive whose holding company Immsi SpA bought Piaggio in 2003 and brought the company to record sales in two years.

"The IPO is the conclusion of the rescue started at the end of 2003, and the result of agreements signed at the moment of the decision to save the company," Colaninno told reporters Tuesday after presenting the company's portfolio to potential investors. "We have a strong young boy who is now ready to walk on his own."