With the approval of Poste Italiane's prospectus by Consob, the largest Italian privatization in recent years kicks off on Monday. The Poste Italiane IPO will last until 22 October and will bring 453 million shares to the market, equal to 34,7% (which can be raised to 38,2% with the greenshoe) of the capital of a group worth between 7,8 and 9,8. XNUMX billion euros.
The range of the price of Poste Italiane shares that will be put on the market ranges from a minimum of 6 euros to a maximum of 7,5 euros per share.
To encourage the purchase of shares, the board of directors of Poste Italiane, led by CEO Francesco Caio, has decided to adopt a particularly generous dividend policy, which should attract the people of the so-called drawers, i.e. those savers who love safe investments and long lasting. For the 2015 and 2016 financial years, Poste Italiane's dividend will in fact amount to 80% of profits. 14,9 million shares will be reserved for employees of the Post Office.
With the Post Office, the Government thus puts the privatization policy back in motion, albeit partial, which aims to raise cash to reduce the mountain of public debt.
After Poste Italiane, the Treasury will put Enav on the market while the privatization of the State Railways is still on the high seas.
