BANCA Commerciale Italiana (BCI), one of Italy's leading national banks, is undergoing privatisation and conducting a roadshow in the Far East, where about one quarter of the offered shares will be sold.
With assets of 131.1 trillion lira (about HK$597 billion), it is the fourth or fifth largest bank in Italy.
BCI, 54.4 per cent owned by the Italian Government, is the third bank in the country to be privatised, after Credito Italiano and IMI.
The bank's loans make up 6.3 per cent of the total for the banking system and it has 4.7 per cent of total deposits.
Assisted by investment bank Lehman Brothers, the bank will sell a total of 540 million shares to the public, 60 million in Italy, 50 million in the US and 130 million in the Far East to institutional investors.
Presentations will be made to investors in Hong Kong, Tokyo and Singapore.