November 29, 2017 / 11:46 AM / a year ago

Italian rail firm NTV to decide exact date of 2018 IPO by year-end - chairman

ROME, Nov 29 (Reuters) - Italian high-speed rail firm NTV will decide the exact date of an initial public offering planned for 2018 by the end of this year, its chairman said on Wednesday.

“We will decide the timing (of the IPO) at our next board meeting because we need to make this decision by the end of the year,” NTV chairman Luca Cordero di Montezemolo said at an event in Rome.

“We will definitely list next year, to raise resources for growth,” Montezemolo, a former chairman of Ferrari, added during the presentation of a new train to add to NTV’s Italo fleet.

NTV has informally enlisted three banks for the listing, which is due to take place early next year, sources said earlier this month.

Reporting by Stefano Bernabei, writing by Isla Binnie; editing by Agnieszka Flak

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