Poste Italiane is poised to make a significant move in the financial landscape with its inaugural digital public sales offer. This initiative, a collaboration between the Ministry of Economy and Poste Italiane, aims to sell a second tranche of shares, representing 15% of the company’s capital, within the next month. This venture marks a notable milestone as it is not only the first privatization since July 2016 to include small savers but also the first digital IPO of a public entity.
2.5 billion operation
The management team at Poste Italiane has been diligently preparing for this project over recent months, following the Prime Minister’s Decree on privatization issued by the Council of Ministers. Preliminary discussions have already taken place with Consob, paving the way for a unique opportunity for savers—both postal and non-postal customers—to reserve and purchase company securities. These securities will be available through the remote channels of the delivery group, specifically via the PostePay website and app. The anticipated value of this operation is approximately .5 billion, which will be directed to the state.
Tight deadlines for presentation
As the clock ticks, shareholders and company management are urged to expedite their preparations, as the IPO is expected to launch on either October 14 or 21, with the latter date appearing more probable. The sales phase is set to last a minimum of three days; however, given the historical context of the previous Poste IPO nine years ago, which lasted ten days, this current offering may conclude even sooner. It is essential to note that the sales process should wrap up roughly ten days prior to the approval of the nine-month accounts scheduled for November 6, coinciding with the onset of a blackout period for the company’s financial communications.
