MILAN, June 16 (Reuters) - Italian builder Salini Impregilo said on Monday it had launched a planned capital increase and share placement to institutional investors, aiming to have 40 percent of its capital freely traded on the market.
The company said the offering would include a portion of newly issued shares worth up to 10 percent of its current share capital, plus up to 100 million existing shares held by its biggest investor Salini Costruttori, a family owned company.
Italy's biggest builder said its board and that of Salini Costruttori had approved the bookbuilding process with the aim of boosting liquidity and strengthening its capital base.
"If all of the shares that are the subject of the equity offer are sold, Salini Costruttori will continue to hold approximately 61.5 percent of the company's ordinary share capital or 58.5 percent if the overallotment option is fully exercised," it said in a statement.
Salini Costruttori currently owns around 89.99 percent of Salini Impregilo's ordinary shares.
Goldman Sachs, Mediobanca and Banca IMI will act as joint global coordinators and bookrunners for the equity offer. BNP Paribas, Equita, Natixis, and UniCredit Corporate and Investment Banking will act as joint bookrunner, while Intermonte will serve as co-manager.
(Reporting by Agnieszka Flak; editing by Stephen Jewkes)