MILAN (Reuters) - Italy's EuroGroup Laminations, a maker of components for electric motors and generators, is expected to price its initial public offering (IPO) at 5.5 euros per share, the midpoint of its targeted valuation range, two sources close to the deal said on Tuesday.    Eurogroup, which is expected to debut on Friday on the Milan Stock Exchange, is the first big IPO in Italy since electrode maker De Nora listed last June and is seen as a test for the reopening of European markets. 

EuroGroup Laminations set an initial price range between 5 euros and 6 euros per share, implying a market capitalisation of 861 to 983 million euros.   

The end of the subscription period was brought forward by a day, with books now set to close by end of business on Tuesday.

The offer has so far seen significant interest from long-only funds, which are now returning to the IPO market, one source said.

The group, based in northern Italy, plans to raise 250 million euros through the sale of new shares in a total offer worth around 394 million euros.

JP Morgan, BNP Paribas, Intesa Sanpaolo and UniCredit are acting as joint global coordinators in the IPO.

(Reporting by Elisa Anzolin in Milan and Pablo Mayo Cerqueiro in London; Editing by Keith Weir; Editing by Keith Weir)