April 30, 2018 / 3:08 PM / 2 years ago

Italy's Salini considers listing in the United States

(Reuters) - Italian builder Salini Impregilo (SALI.MI) could list in the United States in about 12 to 18 months, chief executive Pietro Salini told an annual shareholders’ meeting on Monday.

“Our company’s center of gravity is shifting towards the American dollar and towards the American market”, Salini said, according to the company’s transcript of some of his remarks.

The CEO said the group, currently listed in Italy, was reaching its target for 30 percent of total revenues to come from the United States, while Italy accounted only for 7.5 percent.

When the company reported 2017 results in March, it said it would start reporting results in U.S. dollars from 2018.

Salini said a dual-listing, which would also keep the company’s listing on the Milan stock exchange, was a possibility, but described that as “a very complex option”.

The group could look at other growth opportunities in the United States in the large infrastructure sector, the CEO added.

Salini bought family-owned U.S. construction group Lane Industries in late 2015 for around $406 million.

Reporting by Silvia Recchimuzzi in Gdynia; Editing by Mark Potter

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