Poste Italiane ready to float on Borsa Italiana
The Italian Treasury seeks to raise some €3.7bn through the IPO of Poste Italiane.
The government will offer around 40% of the company at a price of between €6 and €7.50 per share, the Finance Ministry said in a statement following the regulatory body Consob’s approval of Poste Italiane request for an IPO.
The company will be valued between €7.8bn at €9.8bn and the share sale will run from October 12 to October 22.
The capital offered by the government will be split between a 70% aimed at institutional investors and 30% retail.