Thirteen years after the last delisting, a historic Italian company returns to Piazza Affari: Italgas, founded in 1837 in Turin (then called Società Anonima Compagnia di Illuminazione), which in 1967 became part of Eni and then in 2009 of Snam , returns to the stock exchange and is now listed on the electronic stock market (MTA).
The listing was born from the partial demerger from Snam, which will continue to hold 13,5% of the shares, with 26% in the hands of Cassa Depositi e Prestiti and the remaining 60% placed on the market. Italgas thus returns to Piazza Affari after being delisted in February 2003 by Eni, which in 2009 had sold 100% to Snam for around 3 billion (together with Stogit): Snam shareholders are assigned 700.127.659 ordinary shares with no value par value with a ratio of 1 Italgas share for every 5 Snam shares held.
The capitalization of Italgas should be between 3,85 and 4,15 billion euros (which would correspond to a price of approximately 16,5 euros per share), slightly less than the approximately 4,53 billion that the "old" Italgas delisted from Eni. But the "new" Italgas has already started with an aggressive industrial plan, which envisages 2 billion investments in the 2017-2020 period: of these, 57% will be destined for the network and 43% for the replacement of old meters. With almost 6 and a half million meters, the company is the leader in Italy in local gas distribution with a market share of 33%, but aims to grow further in the coming years by taking advantage of the tenders that will renew local concessions for distribution of methane throughout Italy, which is expected to start in recent months.
