Energy group EPS decides against secondary Milan listing

Nhoa SA

11/09/2018 11:24

MILAN, Sept 11 (Reuters) - Electro Power Systems (EPS)
 EPS.PA , listed in Paris, has decided against a secondary
listing in Milan after Engie  ENGIE.PA  upped its stake in the
Italian energy group to 61 percent, EPS CEO Carlalberto
Guglielminotti told Reuters. 
    The company is expected to reach break-even this year but no
dividend payments are planned as the focus will be put on
investments to grow, the executive added. 
    "Another listing in Milan makes little sense now that we are
part of a bigger group," Guglielminotti said. 
    The company, with a market cap of around 145 million euros 
($168 million), listed in April 2015 at 7.3 euros per share. The
stock stood at 11.55 euros at 1032 GMT on Tuesday. 
($1 = 0.8636 euros)

 (Reporting by Giancarlo Navach, writing by Agnieszka Flak,
editing by Francesca Landini)
 ((agnieszka.flak@thomsonreuters.com; +39 02 6612 9450; Reuters
Messaging: agnieszka.flak.thomsonreuters.com@reuters.net))