Poste Italiane IPO road show begins

The Italian government is launching the initial public offering of Italiane this week. An investor road show will  begin today (12 October), and run through to 22 October. The share sale for Poste employees will end on 21 October.

The Italian Treasury said on Friday (9 October) that about a stake of about 38% would be offered, which could raise up to €3.8bn euros, excluding fees and other costs.

Sources report that the company will be listed in Milan on 27 October.

In an interview with the Financial Times, Francesco Caio, the chief executive of Poste Italiane, said: “This is a very large privatisation by Italian standards and opens up the privatisation window after a long freeze.”