Fincantieri Launches IPO

Italian Shipyard Fincantieri have announced that they have just received approval from Italy’s Commissione Nazionale per le Società e la Borsa (the Italian version of the SEC) to become a publicly traded firm. Their IPO will be held from June 27th and run till July 27th. The state sponsored company will make available 703,980,000 shares or about 38% ownership. Funds will be used for future projects and ‘potential acquisitions’ 

They have not released what market they will be traded on.

CruiseShipping is reporting that this values the company at €1.24 billion.