Free from Borsa Italiana at the listing of Avio. admissibility judgment issued today is valid for 12 months and its effectiveness is subject to the filing of the registration document with Consob. The company will then have to submit the application for admission to Borsa Italiana. The listing sponsor is Banca Imi.
In an interview with La Stampa last June 18, the CEO of the Italian company active in the civil aeronautics sector, Francesco Caio, had confirmed that he would continue working for the listing, even if then "the choice and timing will depend on the markets".
At the end of May, Finmeccanica announced the sale of its 14% stake in Avio to the Italian Strategic Fund, an agreement conditional on the company's listing on the Stock Exchange by 2012, in the presence of favorable market conditions.
At the beginning of June, however, they had circulated rumors about a possible waiver of the IPO by Avio. The offer could value the company at just under 4 billion euros, but the English private equity firm Cinven, the controlling shareholder supported by Finmeccanica in the minority, seemed oriented towards a "dual track", a path between listing and sale to a strategic or financial group.
Among the interested groups there was talk of Safran, a giant born six years ago from the merger between Sagem and Snecma, companies active respectively in the defense and aerospace sectors.
