(AGI) – received the go ahead to the listing of the Italian Stock Exchange and the approval of the prospectus with Consob, the Italian Post Office heads towards Palazzo Mezzanotte kicking off the IPO.
The privatization of the company that deals with the management of the postal service in Italy, with 13 thousand offices scattered throughout the boot and 142 thousand employees, is therefore becoming a reality although “the government’s role will remain central,” assures the agency Fitch confirmed its judgment on the company. Investors can participate in what for Italy is the largest privatization of the last sixteen years, while for Europe the biggest of the year. 70% of the offer is reserved for institutional investors and the remaining 30% for small investors. The company led by Francesco Caio has planned a loyalty bonus for those who buy shares of Poste to its placement and held for one year, with a bonus equal to one bonus share for every 20, which will rise to 2 shares for employees. The placement, which will cover up to 38.2% stake in the company, will end on October 22 next. The price range was set between a non-binding minimum of EUR 6 per share and a maximum binding for the only public offering of 7.5 euro, which corresponds to an enhancement indicative of the economic capital of the company from 7.8 to 9, 7 billion euro. From this transaction, the Treasury will cash from 2.7 to 3.7 billion euro, which will reduce the huge Italian debt over 2 trillion Euros. The date scheduled for the landing of the Italian Post Office Square Business seems to be on October 27 next.
12 January 2015 09:17 – Last Updated: 11:37
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