Pirelli has approved its prospectues: the company is ready for IPO

Pirelli has informed Consob that it has approved the Prospectus for the sale and admission to listing of shares on the Telematic Stock Market. With Pirelli IPO, a 35% to 40% stake in the tire group will be available at the Business Square. For the company led by Marco Tronchetti Provera, this is a return to the Italian stock market after the delisting of 6 November 2015 as a result of the mandatory mandate of Marco Polo Industrial Holding.

The sale offer for Pirelli shares will be subject to a maximum of 350,000,000 ordinary shares sold by Marco Polo International Italy.

In detail, the sale offer consists of a public offer of a minimum of 35,000,000 shares, equal to 10% of the Sales Offer, addressed to the public of investors in Italy and a simultaneous institutional placement of a maximum of 315,000,000 shares, equal to 90% of the sales offer, reserved to Qualified Investors in Italy and to Institutional Investors Abroad.

As part of the institutional placement, a greenshoe option is envisaged for the purchase, at the offer price, of up to 50,000,000 shares, corresponding to approximately 14.3% of the shares subject to the offer.

Pirelli and Marco Polo International Italy have set the indicative price enhancement range of the sale price promoted by the Shareholder Seller and aimed at listing the Pirelli shares at Piazza Affari. The price fork ranges from a non-binding minimum of 6.3 per share and a maximum binding of 8.3 per share, corresponding to an indicative capital enhancement range between a minimum of 6.3 billion and a maximum of 8.3 billion euros.

Within the framework of the public offer, a minimum subscription amount of 500 shares is required and a minimum membership fee of 5,000 shares.

The shares will have ISIN code IT0005278236.

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