Pirelli is back on the stock exchange: all the news about IPO Pirelli

We approach Pirelli’s return on stock exchange. A few days ago, the public offering (Pirelli IPO) of the sale will open on September 28, and the first trading day on the Stock Exchange will be scheduled for October 4th.

During the roadshow on placement, it was confirmed that a share of between 35% and 40% of the company’s capital will be placed on the market, which according to the price per share proposed by the institutions involved in the placement will be valued between 6 , 3 and 8.3 billion euros (some sources, like The Street, estimate a value up to $11 billion, for more information please read Pirelli Reportedly Racing to Milan IPO Valued at Nearly $11 Billion).

The company’s shareholding – as a result of the dissolution of the parent company Marco Polo – will see the share of the associate ChemChina fall into scissors ranging between 45% and 49%.

Pirelli’s Chinese shareholders, Tronchetti explained, reconstructing the relationship with ChemChina, showed “respect for minorities” and “for the market” and “accepted the various governance conditions we put on the table.”

The shares of Lti, the vehicle tied to the Russian Rosneft giant (between 5% and 6%), and Camfin, the Italian holding company that also sees the participation of UniCredit and Intesa Sanpaolo (between 10 and 12 %) will drop as well.

On this, Tronchetti Provera explained during the conference that “neither the Russians nor Camfin” have for the moment expressed the desire to sell their quotas after listing: Rosneft, has a commitment not to sell for six months, while Camfin has a twelve-month commitment. At the end, Pirelli tyres will race to market with new hands at the wheel.