marine link image
Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

Institutional Part in Fincantieri IPO Still Not Fully Covered

June 26, 2014

Fincantieri's Ancona yard (Photo courtesy of Fincantieri)
Fincantieri's Ancona yard (Photo courtesy of Fincantieri)

The part reserved to institutional investors in the initial public offering of Italian shipbuilder Fincantieri was still not fully covered as of Wednesday evening, two sources close to the matter said on Thursday.

The company is likely to increase the percentage of shares it has reserved for retail investors which have shown big interest in the IPO so far, the sources added.

"There's been very good demand from retail investors... so the part reserved to retail could be increased," one of the sources told Reuters.

Fincantieri, builder of vessels ranging from luxury yachts to military aircraft carriers, is offering a stake of up to 38.2 percent in the IPO, which ends on Friday.

At the moment, 80 percent of Fincantieri's IPO is reserved to institutional investors.

(Reporting by Elisa Anzolin, writing by Agnieszka Flak)

Logistics News

Baltic Index Hits Third Weekly Loss As Capesize Rates Remain Weak

Baltic Index Hits Third Weekly Loss As Capesize Rates Remain Weak

European Wheat Falls Alongside Shifts in the Euro, Russian Exports

European Wheat Falls Alongside Shifts in the Euro, Russian Exports

Oil Supertanker Rates Drop After Record Highs

Oil Supertanker Rates Drop After Record Highs

DP World Busan Deploys Electric Yard Tractors

DP World Busan Deploys Electric Yard Tractors

Subscribe for Maritime Logistics Professional E‑News

Smoke in the cabin causes emergency landing of a Boston bound Delta flight in Portugal
Volkswagen recalls 4 million cars, Handelsblatt reports
Pentagon: Boeing has won the contract for next-generation US Navy fighters.