July 6, 2015 / 7:30 PM / 2 years ago

Italy's Inwit says greenshoe option fully exercised

MILAN, July 6 (Reuters) - Inwit, the tower unit of phone group Telecom Italia, said on Monday that a greenshoe overallotment option as part of its initial public offering had been fully exercised.

Including the greenshoe option, 239.8 million shares were placed with investors, translating into a free float of around 40 percent and placement proceeds of around 875.3 million euros ($968 million).

The Italian company said the purchase price for shares covered by the overallotment option was 3.65 euros per share - the same price as in the global offering. On Monday, Inwit shares closed down 1.69 percent at 3.95 euros. ($1 = 0.9046 euros) (Reporting by Agnieszka Flak, editing by Isla Binnie)

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