Inwit debut share prices surge 10.47% on Milan bourse

Telecom Italia raises some 875 million euros gross

(ANSA) - Milan, June 22 - Infrastrutture Wireless Italiane SpA (Inwit) share prices surged by as much as 10.47% at their dazzling debut on the Milan Stock Exchange Monday, spearheading an overall share price rise of 2.3%.
    Shares in Telecom Italia SpA's towers unit opened at 3.65 euros, an increase of 6.85% above the initial public offering price and had increased by as much as 10.47% within two and a half hours of trading.
    "The price tells us that the narrative of our company has convinced people," said Inwit Managing Director Oscar Cicchetti.
    Telecom Italia raised some 875 million euros gross from the IPO.
    Telecom Italia offered a 40 percent stake in Inwit, which includes the so-called greenshoe option that allows them to increase the number of shares sold.
    The Inwit debut spearheaded an increase in share prices among other companies with Bper up 5.88%, Mediolanum up 4.37%, Intesa up 4.1% and Banco Popolare up 3.94%.