Poste Facing the maxi-hypo – Il Sole 24 Ore

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This article was published on Oct. 12, 2015 at 7:21.
The last change is the October 12, 2015 at 09:35.

It started the countdown for what is a candidate to be the IPO of the year Piazza Affari. But not only, is a candidate to contend with various Telecom, Eni, Enel, Finmeccanica, etc. that from the 90s onwards are going to raise capital on the market which puts them in the portfolios of Italian families, the title of “Mother of privatizations in Italy.” From now 100% Italian public Poste takes the road of the capital market: up to 38.2% of the shares could be sold, divided by 70% to institutional investors (pension funds, insurance companies and banks) and 30% in retail investors or small investors. 3.3% of the offer is then reserved for group employees. Since this evening you can go to the bank and book purchase of shares in the company led by Francesco Caio. “A company with two souls, one bank (6.2 million current accounts) and postal services (213 million recommended year and 220 thousand packages a day) – explains Mario Spreafico, head of Schroders’ investment wealth management -. Unlike other foreign companies already listed that perform only the function of the bank, as Postbank or post, as the Dutch PostNL, the Italian Post Office carries out both. “

you can be submitted to a minimum of 500 actions. Considering the price range between 6 and 7.5 euro, the minimum investment will be between 3 thousand and EUR 3,750. It is an expensive price? “This fork is an overall potential of the company 9.8 billion, less than some studies that had gone beyond the 11 – says Salvatore Gatien, director of investments SoldiExpert Scf -. Based on these considerations, the price is not so expensive. But it must be remembered that the business model is subject to the risk of new regulations, as it Poste also carries out various activities unrelated dall’ecommerce insurance. Since it generates 70% of revenues. “

The saver wondering whether to require actions Poste (no time October 12 to 22), however, must be clear about this concept: although Poste references in the collective security concept (obtained with merit on the field) in this case it is still of actions, and then of a category of investment is not risk-free. This is not a BoT or any other security of the state. Therefore could be subject to the volatility in the short to which the stock we have used in recent years.

At the same time we are in a stage where the stock markets are recovering from major increases and so it is said that continue to rise. That’s why this type of operation is aimed at an investor from the risk profile by cassettista, willing to maintain long-held titles bought. Clarified this point it must be said that the conditions of the prospectus may arouse a certain appeal. To shareholders that hold securities issued in the placement for 12 months it is offered a bonus of 1 share for every 20 allocated (5% bonus for employees 10%). Shareholders will receive a dividend at least for the first two years (expected to be distributed by a percentage not less than 80% of consolidated net income in 2015 and 2016). Bonuses and dividends that will then add up or subtract the change in the market price to determine the final performance in the pockets of the investor.

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