August 27, 2018 / 11:13 AM / 8 months ago

Italy's SIA gearing up for IPO - source

MILAN, Aug 27 (Reuters) - Italian payment services group SIA is preparing an initial public offering, a source close to the situation said, confirming newspaper reports.

“The path to a listing has been drawn out, it won’t take long,” the source said.

SIA is controlled by state lender Cassa Depositi e Prestiti through investment vehicle FSIA Investimenti, which owns 49.5 percent. Poste Italiane also has a stake in SIA through FSIA Investimenti.

Italian infrastructure fund F2i owns 17.05 percent while Italy’s two top banks UniCredit and Intesa Sanpaolo own roughly 4 percent each.

Earlier this year SIA’s former CEO Massimo Arrighetti told Reuters the company was technically ready to IPO but did not have a listing on its agenda for the time being.

SIA was not immediately available to comment. (Reporting by Luca Trogni, writing by Stephen Jewkes, editing by Francesca Landini)

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