Italy to pocket nearly 3.4b euros from Poste Italiane IPO

Rome

ITALY will raise nearly 3.4 billion euros (S$5.2 billion) from the sale of a minority stake in its post office in a stock market listing welcomed by the government as a vote of confidence for its business reforms.

The sale of up to 38 per cent of Poste Italiane is the biggest privatisation in a decade in the eurozone's third-largest economy.