Edison returns to the stock market, 30% of capital on the market
Edf studies the IPO of its subsidiary. The listing place will be Milan
Edison is preparing for a grand return to the stock market. This would be the path chosen by the reference shareholder, the French group Edf, for the future of the energy company led by Nicola Monti. A suggestive scenario that would have taken shape, according to what has been reconstructed by Il Sole 24 Ore, just before the Christmas break and that should come to life starting from mid-February, when the construction site for the IPO of the group of Foro Buonaparte will be organised with the choice of the banks to service the operation.
The listing venue, however, has allegedly already been identified: Milan. Edison, questioned yesterday by Il Sole 24 Ore, said that the evaluation process is still ongoing and a final decision has not yet been made.
Up to 30% on the stock exchange
The French energy giant Edf therefore seems to be accelerating on the Edison dossier. In recent weeks, there have reportedly been several meetings in Paris that have defined which path to follow in the valorisation process being studied for the French group's subsidiary Edf.
The options examined by Edf for the future of Edison were essentially three: that is, the listing of Edison on the stock exchange, but also the sale of a minority stake to a specialised fund, up to the most direct hypothesis, i.e. the sale of Edison in its entirety and thus the transfer of control. The choice has fallen on the first option, i.e. listing on the Stock Exchange. The plan, still being finalised, would envisage the placement of a stake of up to 30% of the energy company, while the identification of the banks that will be called upon to organise the site should be defined, according to some sources, by mid-February. The listing market, again according to the same sources, will be Milan.
For Edison, the option decided by the French shareholder represents a return to the Milan Stock Exchange after the reorganisation that in 2012 took the Italian shareholders grouped around A2A off the Foro Buonaparte shareholder register in exchange for Edipower's power plants, and above all after Edf's takeover bid that sanctioned the group's delisting. The company reappearing on the Milan Stock Exchange has, however, changed profoundly over the past decade, thanks to a divestment plan that has brought important resources into the coffers and a refocusing on green transition.
