ROME/MILAN, Oct 20 (Reuters) - Around 270,000 retail investors and more than 23,000 employees have subscribed to the Italian Post Office’s initial public offering (IPO), a source close to the situation said on Tuesday.
A second source familiar with the matter said the order book for the IPO had been covered three times.
Italy is selling up to 38.4 percent of the state post service behemoth and could raise as much as 3.7 billion euros ($4.20 billion) for stretched government coffers. The Treasury has set a price range of between 6 and 7.5 euros per share.
Banca IMI, controlled by Intesa Sanpaolo, Bank of America-Merrill Lynch, Citigroup, Mediobanca and UniCredit are global coordinators for the share sale.
Credit Suisse, Goldman Sachs JP Morgan , Morgan Stanley and UBS are acting as bookrunners. ($1 = 0.8818 euros) (Reporting by Giuseppe Fonte and Francesca Landini, writing by Stephen Jewkes; editing by Silvia Aloisi)