(Bloomberg) -- Italian microelectronics company Technoprobe SpA and its backers are considering seeking as much as 800 million euros ($902 million) in an initial public offering in Milan, according to people familiar with the matter.

Technoprobe is currently gauging investor demand for the offering and could start taking orders as soon as February, the people said, asking not to be identified discussing confidential information. A listing could value the business at as much as 4 billion euros, according to the people.

The company last week announced plans to list on Euronext Growth Milan by the end of the first quarter, without providing details about the size of its share sale. Technoprobe’s existing backers are aiming to raise as much as 650 million euros in the IPO, with the company itself targeting another 150 million euros, the people said.

Technoprobe hasn’t finalized terms of the offering, and details of the share sale could change, the people said. A representative for Technoprobe declined to comment. 

Founded in 1993, Technoprobe specializes in the design and manufacturing of probe cards, which are used to test semiconductor producers’ chips. Mediobanca Banca di Credito Finanziario SpA and Intesa Sanpaolo SpA are joint global coordinators on the listing.

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