On the fourth day of the offer, Poste Italiane's IPO also received orders from British and American funds, as well as obtaining good demand from Italy. Furthermore, the IPO is already covered more than once, including the Greenshoe portion. Institutional bookings are over 6 euros, the minimum of the expected price range.
At an international level, investors' interest is not only for Poste Italiane, but also for Italy as a country. The flow of orders is also, according to what Radiocor learns, constant compared to the first days of the offer and it should be considered, on the retail side, that the booking timing does not affect the assignment methods.
Looking at the history of recent privatizations, it cannot be excluded that for retail investors the Treasury, as happened in the past, decides to meet savers by expanding the offer dedicated to them. On the other hand, given the importance of the IPO involved, the success among investors and the Treasury's interest in obtaining the best price, it does not seem probable that the offer will be closed in advance.
The management road show in the USA will take place on Monday. The IPO, which began last Monday, should end on October 22nd. 70% of the offer is destined for institutions, the remaining 30% for savers.
