The admission to listing of the Company's shares was approved by Borsa Italiana SpA on 29 May further to the approval of the Shareholder Meeting of Pirelli & C. Real Estate received on 2 April 2002.
The listing of the Company's shares will be achieved via a Global Offer - led by Mediobanca, Morgan Stanley and UBM - of a maximum of up to 14,150,000 shares, in part derived (up to 4,050,000 shares) from a capital increase, with exclusion of pre-emption, approved by the Pirelli & C. Real Estate Extraordinary Shareholder Meeting on 2 April, and in part derived from a maximum of up to 10,100,000 shares offered for sale by the majority shareholder Pirelli & C a.p.a..
Further, the granting of a greenshoe option is envisaged by Pirelli & C., to the Joint Bookrunners Mediobanca and Morgan Stanley, for a maximum of up to 2.100.000 shares.
Mediobanca is Sponsor and responsible for the placement of the Public Offering, while Lazard is acting as advisor.
For further information:
Pirelli Press Office Tel. +39/02/8535.4270