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Fincantieri - world-leading cruise orderbook

Fincantieri IPO is near

State-owned Fincantieri has filed with with the Italian Securities and Exchange Commission to publish the prospectus for an initial public offering on the Milan stock exchange.

The IPO is part of a privatization drive by the Italian government to reduce debt. Reports in Europe said up to 49% of the shipbuilding giant are expected to be listed.

Fincantieri's cruise orderbook leads the industry. The builder reported a 2013 profit of €85m on revenues of more than €3bn.

This week Fincantieri shareholders approved a share capital increase of up to €600m as part of the privatization.

Banca IMI, Credit Suisse, JP Morgan, Morgan Stanley and UniCredit Corporate & Investment Banking are joint global coordinators of the offering. Banca IMI is the lead manager, while UniCredit Corporate & Investment Banking is serving as the sponsor.

Joint bookrunners are BNP Paribas, Citigroup Global Markets, Deutsche Bank, London Branch of Goldman Sachs International, HSBC Bank and Mediobanca.

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