Fincantieri, the Italian state controlled shipbuilder, has placed its initial public offering (IPO) at €0.78 per share, the floor of the €0.78 to €1.00 range it had indicated earlier. The company will only offer 450 million shares out of a maximum of 703.9 million that it had planned to sell.
“Fintecna S.p.A., in its capacity as Selling Shareholder, will not sell any Shares in the Global Offering. An Overallotment option for 50,000,000 Shares will be granted by Fintecna S.p.A,” Fincantieri said.
Fintecna is a holding company that belongs to Cassa depositi e prestiti, an Italian investment company in which the government has a 80.1% stake.
Trading in the shares of Fincantieri will start on 3 July.
