THEPoste Italiane IPO it's already a success: demand has almost covered supply three times in the price range 6-7,5 euros (the upper part of the fork was also covered once) and the management is expected today in London for an extra day of road shows.
Yesterday the CEO Francesco Caio, the CFO Luigi Ferraris and the investor relator Luca Torchia were in New York to complete the road show in the USA, where there was a lot of interest.
Among the interested investors, those of are starting to appear China e Japan. With the exception of another listing by another postal group, Japan Post, Poste Italiane's is the only IPO among the large companies in the last year that has not had to revise the price range downwards.
At this point the institutional investor market is expecting a narrower indication on the range of the definitive price range which, in an 'overbooked' operation, would probably be well above the minimum of 6 euros.
The closing of the offer is scheduled for 13pm on Thursday 22 October.
