Juventus Share Offer Proves A Success
MILAN, Dec 18 (AFP) - The initial public share offer of Juventus Football Club has been a successful one with demands by potential investors for some 51.5 million shares rather than the 38.7 million originally put on offer, ANSA news agency reported Tuesday.
Some 41,087 aspiring buyers had requested to buy shares and they will be distributed some 44,505,000 shares.
"In an uncertain scenario like today, the market has understood and appreciated this operation," said Juve's managing director Antonio Giraudo. "It bears witness to the fact that the financial solidity of a business, and its growth prospectives, remain the heart of the judgement of investors also and above all in the football world."
Of the 44,505,000 shares that will be assigned, some 16,930,210 come from a raising in the capital of the club, 21,769,790 from shares sold by existing shareholders and 5,805,000 from a so-called over-allotment option.
Some 41,011 of the aspiring buyers are in the public section and they will be offered 26,458,500 shares while 76 investors in the institutional section will purchase 18,046,500 shares.
On Saturday, a share price of 3.3 US dollars (3.7 euros) was set ahead of Thursday's flotation on the Borsa Italiana (Milan Sotck Market) in the Star section for small and medium businesses.
