MILAN (Reuters) - Inwit (INWT.MI), the tower unit of phone group Telecom Italia (TLIT.MI), 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.
Reporting by Agnieszka Flak, editing by Isla Binnie