Poste, to start on Monday the IPO of 3.7 billion. Price range between 6 and 7.5 Euros to action – Il Sole 24 Ore

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This article was published on Oct. 9, 2015 at 13:39.
The last change is the October 9, 2015 at 19:18.

Poste is going to arrive at the Milan Stock Exchange after the official go-ahead for the prospectus to Consob listing. The price range is 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 between 7.837 and 9.796 billion euro.

The Ministry of Economy and Finance, said in a note, put on the market 453 million ordinary shares, representing 34.7% of the share capital. This fee can be up to 38.2% in the case of exercise of the greenshoe option available to distributors. The transaction values ​​the entire share capital of Poste between 7.837 billion and 9.796 billion, representing a non-binding minimum price of EUR 6 per share and a maximum binding for the only public offering of 7.50 euro per share. The offer will have ‘beginning on October 12 and will end’ on October 22.

According to the statement to employees will be 14.9 million shares, representing approximately 3.3% of supply. Retail customers will be 30% of the shares in the institutional placement while the remaining 70% will go. This morning had reached the green light from Consob to the prospectus for the IPO Italian Italian post office.

For those who, with the placement of shares of Poste, held in the portfolio for at least one year after the listing is expected to be awarded one bonus share for every 20 (5%). The bonus increases to 10%, with a bonus share for every 10 held in the portfolio for 12 months for employees who buy lots of the offer reserved for them.

MEF: “Poste on the Stock Exchange , sign of change ‘
“The prices of the Italian Post Office is part of the period of reform that the government is implementing and represents an additional signal to the markets of a significant change taking place.” And ‘what we read in a note from the Ministry of Economy. The MEF, the statement added, “welcomes the approval by Consob prospectus placement that is 16 years after the first listing (IPO) of a company ‘controlled directly by the Treasury. It is a fundamental operation of the privatization program of the government, which aims to strengthen the company ‘, make more’ efficient services provided to citizens, strengthening the capital market and financial resources to be allocated to debt reduction ” .

The rating agency
The agency Fitch meanwhile said that will keep ‘unchanged its rating on Italian Poste also after the upcoming IPO of society’. And ‘what is said in a statement the agency. Fitch explains that the decision to maintain the ratings and ‘due to the fact that the price of 40% of Poste will not go’ to alter the relationship and the bond that the company ‘has with the government.

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