Sea set the indicative range for the IPO price between 3,2 and 4,3 euros. The company that manages the Linate and Malpensa airports underlines that this range values 100% of the capital between 800 million and 1,075 billion euros. The value is between 187 and 252 million euros.
According to a source close to the dossier and quoted by Reuters, Sea will offer up to 58,52 million shares in the IPO. The offer provides for a capital increase of up to 24,4 million shares and a sale of existing shares by Asam (holding company of the Province of Milan), up to 34,120 million shares.
The bookbuilding and the roadshow, adds the source, will start on November 19th and end on November 30th. Pricing is scheduled for December 3, while the debut in Piazza Affari should take place on December 6th.
Sea's board of directors also approved the accounts as at 30 September 2012 closed with revenues of 502,7 million euros (+5,3%), Ebitda at 126,9 million (+6%), Ebit at 73,4 million (+3,4% ), net profit of 39,3 million, substantially unchanged compared to 30 September 2011, which benefited from a 16,1 million capital gain linked to the sale of assets. Net financial debt stood at 334,5 million euro, while investments amounted to 80,6 million.
Il passenger and freight traffic was affected by the global macroeconomic context. As at 30 September, the Milan airport system served 21,4 million passengers (-1,6%) and handled 312 tonnes of cargo (-8,4%).
In any case Malpensa is confirmed as the first Italian airport for the management of goods (54% of the Italian total). In detail, on the passenger front Malpensa recorded 14,3 million passengers (-3,9%), Linate 7,1 million passengers (+3,3%).
