By Giulia Petroni
Eni SpA announced Thursday that it has postponed the IPO of its Milan-based retail and renewable energy business Plenitude due to deteriorating market conditions.
“Although companies have noted strong and widespread investor interest in Plenitude, as well as significant consensus on its strategy, Eni believes that the volatility and uncertainty currently affecting the markets warrants additional monitoring,” said the Italian Oil and Gas Major.
Plenitude is currently fully controlled by Eni and Eni will retain a majority stake following the planned IPO on Euronext Milan.
Write to Giulia Petroni at [email protected]
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