Poste Italiane, stock offering in mid-October

Rome - C.E.O. Francesco Caio will launch the share offering of Poste Italiane in mid-October in preparation for its listing on the stock exchange, and is thus aiming for a debut on Milan’s Electronic Stock Exchange at the end of the month or in early November. Up to 40% of the capital will go on the market, with a ceiling on shareholding established at 5%, and with “significant” stakes reserved both for employees and for the retail market for small investors to favour broad share ownership by individuals.

The roadmap was announced few days ago, unless there are delays in the final approval process, with the submission of the request for listing on the Italian Stock Exchange and the request to CONSOB for authorisation of the publication of the informative prospectus. If there are no requests for the integration of the prospectus, the approval process at CONSOB takes about 60 days on average.

The placement will begin the week after the approval with a road show on the most important financial markets. The debut on the Stock Exchange will take place after two weeks. The value of the shares will depend on the market value in the weeks leading up to the IPO and during the road show.