Stock Exchange Listing
Beginning on 7 November 2016, the Italgas stock will once again be listed on the FTSE MIB index of Borsa Italiana (Italian Stock Exchange), after an absence of 13 years. The listing follows the split from Snam, allowing both companies to focus on their respective core businesses, with clearly defined objectives that are discernible to the market and with obvious benefits for all stakeholders.
Italgas, as an independent company from an operating and financial perspective, can now concentrate its efforts and skills on the best strategy to adopt for participating in segment tenders, with the objective of significant growth in the reference market. This will allow the company to benefit from additional economies of scale and greater operating efficiency. With a solid credit rating and direct access to capital market, Italgas can take advantage of the opportunities presented by current conditions in the financial market.
The stock exchange listing was preceded by a Capital Markets Day (London, 24 October 2016) and a road show by management in all of the primary financial centres in Europe and the East Coast of the U.S.
Upon listing, each Snam shareholder was granted an Italgas share for every 5 Snam shares owned.