Changi Airport Unit Sells Up to $224 Million Gemina Stake
Stock Chart for Gemina SpA (GEM)
The selling shareholder is offering 73.4 million shares at a price range of 1.41 euros to market, the terms showed. Worldwide United, a subsidiary of Singapore’s Changi Airport, has an option to increase the size of the sale by another 49.4 million shares.
Italy’s markets regulator also approved the merger of Gemina with Atlantia SpA (ATL) today.
UBS AG is managing the Gemina share sale, which may in total raise about 173 million euros ($224 million).
Shares of Gemina, whose core business is in airport infrastructure, closed at 1.49 euros today, down 1.7 percent. They have gained 39 percent so far this year.