IMMIT IPO: Italy

A new IPO is expected to hit the Italian markets very soon. It’s the IMMIT or the Immobili Italiani SpA., which is planning to come out to the primary markets with its IPO plans.

The company belongs to the real estate investment sector and manages much of the property portfolio of its owner Intesa Sanpaolo SpA
What is the price range of the IMMIT IPO?
Price range of the IMMIT IPO from Italy is set to be between 2.9 Euros to 3.6 Euros per share.

What is the market valuation of the IMMIT IPO?
Based upon the price range, the market valuations of the IMMIT or Immobili Italiani SpA comes out to be around 1.05 billion Euros.

How many shares will be offered for sale through the IMMIT IPO?
A total of 148.396 million shares, or 51 percent of the company, will be sold through the IMMIT IPO. The IMMIT IPO includes a retail offer of 44.517 million shares

Is there any greenshoe option available with IMMIT IPO?
Yes. The IMMIT IPO comes with a greenshoe option. If a greenshoe option of 18.549 million shares is exercised a total of 57.4 percent of IMMIT capital will be on the market.
Also, the company will offer one bonus share for every 20 shares owned by shareholders who keep the shares for at least one year.

What are the subscription dates of the IMMIT IPO?
The IMMIT IPO will begin on May 26 and end June 5, 2008.
IMMIT said the final price will be communicated by June 7 and the company expects to debut on the Milan stock exchange on June 11.

Banca IMI and Lehman Brothers are the lead managers for the IMMIT IPO issue. Let’s see how this IPO from IMMIT performs in the Italian Markets.

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