THE ITALIAN SEA GROUP S.P.A. (Alliance News) - GC Holding Spa has sold all 4.6 million shares of Italian Sea Group Spa put up for sale Tuesday evening through an accelerated bookbuilding operation.
The shares -- amounting to 8.7 percent of the company's share capital -- were sold at a unit price of EUR10.10, for a total value of EUR46.5 million. GC Holding now holds 28.4 million shares in TISG, accounting for 53.6 percent of the latter's capital.
GC Holding initiated the transaction to enable the increase in free float and liquidity and has entered into a 90-day lock-up commitment.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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