The listing is approaching MY BAG di Enav, which will distribute its last coupon after the shareholders' meeting on April 29, which will also serve to integrate the air traffic controllers' board of directors with two new directors in view of the IPO.
La coupon, which will be distributed to the shareholder, the Ministry of Economy, should be particularly rich. Considering that the net result of the Spa, on which the coupon is calculated, is positive for 49 million euros, and that the payout could be around 90%, a dividend of 44 millioni, even if the possibility of distributing part of the company's reserves remains open.
On the other hand, the possibility of recourse to a large extraordinary dividend, which would be based on the 400 million reserve created last March, is unlikely. In fact, the distribution of such a coupon would weigh on the valuation of the company at the time of listing, thus lowering its value.
In any case, the timing of ENAV's launch on the Stock Exchange, initially scheduled for 28 June, risks being postponed by a couple of weeks, towards mid-July.
