Inwit shares surge 9% on trading debut
Inwit (Infrastruture Wireless Italiane SpA), the tower arm of Telecom Italia, debuted on the Milanese stock exchange on Monday 22 June with great success
Telecom Italia has successfully spun off and listed towerco Inwit, with 11,519 towers on the balance sheet. In this brief summary, TowerXchange re-introduces Inwit, reviews the reception Inwit received on the Milan stock exchange, and contrasts Inwit’s market cap and subscription rate with obvious comp, Cellnex.
Warm reception to Inwit IPO
Inwit raised a gross €875.3mn from the IPO of a 40% stake in the company, excluding commissions and expenses, a sum which it is believed will be used to reduce Telecom Italia’s debt buden.
Inwit’s market cap now stands at an impressive €2.4bn.