Pirelli RE´s Olinda fund 2.6 times subscribed and priced near top of range (IT)

Pirelli & C Real Estate SpA said the offering of shares in its Olinda fund was 2.6 times subscribed, and the price has been fixed at € 508 per share, at the top end of the preset € 500-510 range.

Because of strong retail demand, the entire 496,002 shares on offer will be allocated to retail investors, it said, and it plans to launch a fund for institutions shortly.

Pirelli RE closed the public offer part of the overall offering on Nov 15, because of strong demand, instead of today as scheduled.

The part of the Olinda offer allocated to retail investors was 2.7 times subscribed, while the part for institutional investors was 1.9 times subscribed, it said.

Source: Freeman

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