MILAN, June 16 Italian builder Salini Impregilo
said on Monday it had launched a planned capital
increase and share placement to institutional investors, aiming
to have 40 percent of its capital freely traded on the market.
The company said the offering would include a portion of
newly issued shares worth up to 10 percent of its current share
capital, plus up to 100 million existing shares held by its
biggest investor Salini Costruttori, a family owned company.
Italy's biggest builder said its board and that of Salini
Costruttori had approved the bookbuilding process with the aim
of boosting liquidity and strengthening its capital base.
"If all of the shares that are the subject of the equity
offer are sold, Salini Costruttori will continue to hold
approximately 61.5 percent of the company's ordinary share
capital or 58.5 percent if the overallotment option is fully
exercised," it said in a statement.
Salini Costruttori currently owns around 89.99 percent of
Salini Impregilo's ordinary shares.
Goldman Sachs, Mediobanca and Banca IMI
will act as joint global coordinators and bookrunners
for the equity offer. BNP Paribas, Equita, Natixis,
and UniCredit Corporate and Investment Banking will
act as joint bookrunner, while Intermonte will serve as
(Reporting by Agnieszka Flak; editing by Stephen Jewkes)