Poste Italiane IPO price to be 6.50-6.75 euros (2)

State selling off around 40% of company

(ANSA) - Milan, October 22 - The price for the upcoming IPO of Italian postal company Poste Italiane will be between 6.50 euros and 6.75 euros, sources said on Thursday. This is in the middle of the range of between 6.00 and 7.50 euros given in the flotation prospectus. The Italian government is selling a stake of around 40% in the company and the privatization is expected to raise 7.8 billion and 9.8 billion euros. As well as running Italy's postal service, Poste Italiane also has a thriving banking and financial services arm.


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