Pirelli warms the engines for returning to the Stock Exchange. “The first day of trade is expected on October 4th,” said Marco Graffigna of Banca Imi, the institute that cared for the Ipo, whose first day was September 18, according to the Italian Republican newspaper. Presenting the timing of the operation, he recalled that the public sale offer and the roadshow start today and will close on September 28 while the price should be set September 29th within the fork between 6.3 and 8.3 euros.

It’s a historic event for Pirelli, a startup company with 145 years of life on the stock market,” said Marco Tronchetti Provera introduced a press conference this morning at the Milan Stock Exchange return after a two-year absence. Pirelli returns to bargaining – he said – is “a different company, projected to the future, focused on the high-end tire segment” and also with less debt and expected returns to the dividend in 2019. About numbers for the next Pirelli IPO, Pirelli reports growth ahead of IPO: the debt related to the high- Ebitda was at 5, now it will drop three times by the end of the year and 2 in 2020, so the accounts are better. Pirelli should be able to distribute a dividend equal to 40% of the profit in 2019.

Speaking of his working succession at the group’s leadership, the manager revealed: “I will leave in 2020, there is a name in the envelope for who will come after me, is within my current team.” There is always a name in the envelope, and Tronchetti Provera has said it has changed it often in the past, but it is now stabilizing. Succession is not a central theme according to Tronchetti Provera, which today is 70 years old and in 2020 it will not have 72. In addition, the Milan businessman said that he will always be close to the company, even though driving, energy, and vision belong to other people. Team members that Tronchetti Provera guides have on average 50 years old, so the future of Pirelli is in good hands.

Pirelli‚Äôs IPO could be the largest in EMEA this year, as for the post-IP Equity Fund, the vice president added that he would be stable because none of the shareholders expressed his intention to sell more shares. Chem China’s decrease in shares was in the pact, 65% will have 45-49%, Camfin will have 10-12%, Russians 5-6%. “

Finally, the dual listing is once for all excluded, since a double quotation – explained Tronchetti Provera – may create liquidity problems on one of the two markets.