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Camfin rallies after convertible bond launch

MILAN, Oct 12 (Reuters) - Shares in Camfin , the parent company of tyremaker Pirelli , extended gains to rise nearly 5 percent in Milan in early trade on Friday.

Camfin said on Friday it launched a fixed-rate 150 million euro ($194.14 million) bond convertible into 5.85 percent of Pirelli shares.

At 0724 GMT Camfin shares were up 4.38 percent at 0.51 euros while Pirelli was down 0.68 percent at 8.79 euros in a broadly flat Milan market.

(Reporting By Lisa Jucca) ((elisabetta.jucca@thomsonreuters.com)(Tel +39 02 66129442)(Reuters Messaging: elisabetta.jucca.thomsonreuters@reuters.net))

Keywords: CAMFIN BOND/SHARES