Italy's Snam offers to sell option rights for Italgas capital hike
29/05/2025 18:28
MILAN, May 29 (Reuters) - Italian gas grid operator Snam SRG.MI said on Thursday it had launched an accelerated book building process to sell up to 83.6 million out of a total 109 million option rights related to Italgas' IG.MI capital increase. Proceeds from the placement, for which JP Morgan is acting as the sole bookrunner, will finance Snam's exercise of its remaining option rights for Italgas' capital increase. Snam, which currently holds a 13.5% stake in Italgas, has previously said it was prepared to see its shareholding in the gas distributor reduced as a result of the planned capital hike. (Reporting by Francesca Landini, editing by Alvise Armellini) ((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))