Pirelli will go on the stock exchange with a valuation of between 6,3 and 8,3 billion euros and a range of price per share between a non-binding minimum of 6,3 euros and a binding maximum of 8,30 euros. This was communicated by Pirelli itself and the controlling shareholder Marco Polo International Italy. The sale offer will concern a maximum of 350.000.000 ordinary shares, corresponding to 35% of the share capital of Pirelli.
An 'over-allotment' option is also envisaged in favor of the joint global coordinators to borrow a maximum of 50.000.000 shares, equal to approximately 14,3% of the shares subject to the sale offer and 5 % of the share capital, for the purpose of a possible over-allotment in the context of the institutional placement.
Borsa Italiana – reads the note – today released the provision for admission to listing on the Mercato Telematico Azionario. The sale offer will be launched compatibly with market conditions and subject to the approval of the prospectus by Consob. It is envisaged that the start of trading of the Shares could take place 'in the first half of the month of October'.
