💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Milan's SEA airport operator plans IPO by end 2011

Published 12/09/2010, 11:03 AM
Updated 12/09/2010, 11:08 AM

* SEA runs Malpensa, Linate airports

* Rome, regional airports already listed

MILAN, Dec 9, (Reuters) - Milan airport operator SEA aims to list its shares on the Italian stock exchange via an issue of fresh capital by end-2011, its chairman said on Monday, adding to the roster of Italian listed airport operators.

SEA, which operates the busier Malpensa airport and the Linate city airport, plans to decide on the initial public offering once its main owner the City of Milan has approved its annual accounts, Giuseppe Bonomi said.

"The target is the end of 2011 ... the decision that will come out will include the quotation of the company via a capital increase by the end of 2011," he said, speaking on the sidelines of a news conference at Malpensa.

In 2009, SEA reported a sharp rise in net profit to 53.2 million euros, boosted by one-offs. Sales fell 8.4 percent to 581 million euros after Italian airline Alitalia stopped using Malpensa as an international hub.

Gemina, which runs Rome's airports, has a market capitalisation of nearly 800 million euros. The operators of regional airports at Venice, Florence and Pisa are also listed on the Milan stock market. (Reporting by Sara Rossi; Writing by Nigel Tutt; Editing by Jon Loades-Carter)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.