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%.
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