Glorious day in Piazza Affari for the Snam Rete Gas title, which by mid-morning gained about two and a half points, moving into second place among the increases in the Ftse Mib after Salvatore Ferragamo.
The purchases of the shares of the plant engineering company of the Eni group were triggered by an announcement from the Italian energy giant (which in the same minutes gained 0,8% on the Stock Exchange). The company led by Paolo Scaroni intends to launch a bond offering senior unsecured convertible into Snam ordinary shares for a total amount of approximately 1.250 million euro.
According to analysts, the transaction will have a beneficial effect on Snam's stock because it will reduce the risk of "overhang", i.e. the excess supply of shares on the market which leads to a drop in prices. "With this issue, Eni's stake in Snam is halved to around 11,5%, from around 20,2%," explained the analysts of Banca Akros, confirming the "buy" judgment on Eni, with a target price of 21,50. XNUMX euros.
