Through a capital increase and a placement, which will be reserved for institutional investors only, Salini Impregilo points to increase the free float from the current 10% to 25%. Furthermore, starting from 2014, the group – which in 2013 distributed a dividend to savings shares only – aims to a minimum payout of 20%. This was announced by the managing director Pietro Salini after presenting this morning the 2013 accounts and the new business plan.
"We expect a 10% capital increase - explained the manager - which will restore the 10% free float, to which a 5% private placement will be added". As for the timing, “we plan to do it as soon as possible, also because it's useful for the title. We are ready".
On the sales front, the sale of Todini Costruzioni Generali will take place "by the end of the year", continued Salini, specifying that there are "talks in progress" because it is a "non-strategic asset". If Todini had been consolidated in the group's 2013 accounts there would have been a negative impact of 60 million on Ebitda.
At the beginning of the afternoon, the Salini Impregilo share on the Stock Exchange gained one percentage point, to 4,496 euros.
