The IPO of Fincantieriwhich closes on June 27. The price will fluctuate between a non-binding minimum of €0,78 and a binding maximum of €1 per share. In fact, the shipbuilding group will offer up to 703,98 million shares, deriving for a maximum of 600 million from a capital increase and for a maximum of 103,98 million shares from the sale by the shareholder Fintecna.
Fincantieri aims to go public at the beginning of July with a capitalization that could reach up to 1,84 billion euros and with a free float of up to 38,2%, which could rise to almost 44% in the event of full exercise of the greenshoe .
In the statute of the company led by the managing director Giuseppe Bono, it should be remembered, a 5% limit on share ownership was introduced, which prevents "too cumbersome" presences. A minimum package of 20% of the total shares put on the market will be aimed at the "indistinct public in Italy and Fincantieri employees residing in Italy".
Approximately 80% of the offer will instead be dedicated to institutional placement: The minimum lot to be subscribed is set at 4 shares, which rise to 40 with the increased minimum lot. For employees, the minimum lot is 2 shares, with the guarantee of being able to subscribe to two minimum lots.
A bonus share is also envisaged: the assignees of the shares who will keep them for twelve months will be entitled to the free allocation of one free ordinary share for every 20 shares.
