Italy says offer of BNL shares begins Nov. 16

Article Abstract:

Banca Nazionale del Lavoro (BNL) is slated to conduct its initial public offering on Nov. 16, 1998, according to Italy's Treasury. The announcement erased speculation of a possible delay of the IPO and the privatization of the bank due to recent market turbulence. The issuance of BNL's shares would involve an offering to the Italian public as well as private placement for institutional investors in Italy and abroad. Upon completion of the IPO, the three main investors, namely Banca Bilbao Vizcaya, Banca Popolare Vicentina and INA, will receive 25% of shares in the bank.

Comment:

Is slated to conduct initial public offering on 11/16/98, according to Italy's Treasury

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BNL's core share-holding group set

Article Abstract:

Banca Nazionale del Lavoro's (BNL) privatization by the Italian government will involve a core share-holding group composed of Italian regional bank Banco Populare Vicentina SpA, Italian insurer Instituto Nazionale delle Assicurazioni Spa (INA) and Spanish bank Banco Bilbao Vizcaya SA. The group will hold a total of 25% of BNL, which is the fifth-largest bank based on deposits in Italy, for at least 15 months after the privatization which is scheduled to be implemented by the end of October 1998.

Comment:

Will be privatized in Oct 1998 by the Italian government which has formed a core-sharing group that will hold 25% of the company

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Negri Bossi stock declines 4.6% on debut in Milan

Article Abstract:

Negri Bossi S.p.A. saw its share value decline on its first day of trading in Milan by 4.6% to 2.85 euros per share. The company's initial public offering was the first in Italy since July 2001.

Securities prices, Industrial Machinery and Equipment, Misc Industrial Machinery, All Other General Purpose Machinery Manufacturing, Industrial equipment, Machinery industry, Securities, Going public (Securities), Initial public offerings, Negri Bossi S.p.A.

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