At least 180 food companies in Italy could be candidates for initial public offerings, according to a study by the stock exchange Borsa Italiana.

However, banks looking for IPO mandates will not necessarily have an easy job persuading the companies that the stock market is the best option. Davide Campari-Milano, the largest initial public offering in the Italian market this year, priced at the low end of its bookbuilding range on Tuesday. The pricing demonstrated the diffcult maket conditions in the new issues market.