MILAN: Shares in Italian utility Enel fell on Thursday after the Treasury sold 5.74 percent of the company, cashing in 2.2 billion euros ($2.50 billion).
The sale is the first in a raft of planned privatisations to reduce Italy's 2-trillion-euro debt pile that will bring cash directly into the state's coffers.
Three financial sources told Reuters that the price guidance for the placement was around 4 euros a share, representing a discount of around 1.2 percent on Wednesday's Enel closing price.
At 0810 GMT shares in Enel were down 1.9 percent to 3.97 euros, underperforming a flat Milan bluechip index.
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