Fincantieri, the Italian state owned shipbuilder that is major builder of cruise ships, has launched initial public offering (IPO) of shares, with an aim to list on Borsa Italiana in Milan, the bourse said in a statement.
Shares in the shipbuilder would be offered to investors in an upcoming initial public offering at an indicative price of €0.78-€1.0 euros per share, making for a market capitalisation of €969 million to €1.24 billion.
Fincantieri said that a maximum of 703.98 million shares would be sold through the offering, which is set to run from next Monday until June 27. While the maximum indicative price is binding, Fincantieri said that the minimum is not.
