Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
Fincantieri, maker of vessels ranging from luxury yachts to military aircraft carriers, said in a statement it would offer a stake of up to 38.2 percent stake, mostly made up of new shares, at a price range between 0.78 euros and 1 euro per share.
That would value the company, based in the northeastern port city of Trieste, at between 1.57 billion euros and 1.84 billion, and the initial public share offering up to 704 million euros.
The flotation – the bulk of which will be reserved for institutional investors – starts on Monday, the same day as that of UniCredit’s online banking unit Fineco.
Fincantieri is wholly controlled by Fintecna, itself owned by state financial holding Cassa Depositi e Prestiti.
The proceeds of up to 600 million euros from the issue will be used to bolster Financtieri’s finances.
Fintecna can at best cash in 200 million euros from the listing, meaning the Italian treasury does not stand to gain much from the privatisation. ($1 = 0.7345 Euros) (Reporting by Elisa Anzolin; Writing by Silvia Aloisi; Editing by David Holmes)
© 2014 Thomson Reuters. All rights reserved.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,971 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,971 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up