ENAV, with the landing on the stock exchange, the Treasury will remain at 51% – The Messenger

finally kicks off the listing process, the so-called IPO, ENAV. The company that manages and controls the Italian civil air traffic and is wholly owned by the Economy Ministry presented a formal request to the eligibility of judgment granting the listing and, simultaneously, has filed a registration document with Consob for approval .

the draft IPO ENAV, was approved by the shareholders, then, as said the Treasury, March 10. In the concrete, landing on the Stock Exchange will be through the offer for sale of the company shares representing up to 49% of the share capital. In other words, the Treasury will sell 49% and will remain in majority with 51 per cent. This is therefore a partial privatization of the company, in the wake of what happened at the end of 2015 for the Italian Post Office (in whose shareholding structure, however, the state is left with a larger proportion, around 65%).

the operation, just as happened with Poste, will consist of an offer to sell to the public in Italy, thus including small savers, who will add a private institutional placement to professional investors. Looking at the financial numbers, remember that ENAV has closed the year 2015 with a consolidated net profit increased by more than 65% per year to EUR 66.1 million, the best result in company history. Consolidated revenues are increased by a more modest 1.7% to 850 million.
 

 04/06/2016 15:16:02

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