Fincantieri has paved the way for a listing on the stock market in Italy and a share offering to raise 600 million euro.
Approved at a shareholders’ meeting earlier this week, the company is expected to be listed and make its offering by late June or early July.
Fincantieri is a government-owned enterprise and the leading cruise ship construction company, operating a number of yards in Italy that also build naval vessels, ferries and mega-yachts. In addition, the company owns yards in North America building naval and Coast Guard vessels, and in Europe, South America and Asia, specializing in offshore vessels.
For 2013, Fincantieri reported net income of 85 million euro on revenues of 3.8 billion euro.