Italian space launcher company Avio lands on stock market

Italian space launcher company Avio lands on stock market

MILAN — Italian space launcher company Avio SpA has become the first in its category to go public, seeking to boost its growth ambitions.

Avio launched its initial public offering at a share price of 13.88 euros ($14.70) Monday.

Avio is the largest satellite launcher in Europe. It makes engines for rockets that are used to put small satellites into low orbit, in joint venture with the Italian Space Agency.

As part of the moves to help Avio grow, Italian defence contractor Leonardo, formerly known as Finmeccanica, has increased its stake in Avio from 14 per cent to 28 per cent. Avio also merged with an acquisition vehicle, Space2, which is investing cash.

Avio has annual revenues of 280 million euros with a backlog of 900 million euros in orders.

The Associated Press

Just Posted

Westshore Rebels game postponed due to poor air quality conditions

Games expected to continue the following week

BC Farmers’ Market Trail a one-stop virtual guide to the goods

New website assembles, profiles 145+ farmers’ markets throughout B.C.

Saanich police investigating sexual assault in broad daylight

Social media lit up with accusations incident took place at Regina Park tent city

Swimmer halts journey across Strait of Juan de Fuca after hypothermia sets in

Susan Simmons swam for eight-and-a-half hours in 9 C choppy waters

Oak Bay man designer behind Canucks’ retro jersey

Jeremie White was 20 years old when he told Canucks assistant GM Brian Burke he had a design

Five things to do in Greater Victoria this weekend

Puppy yoga, horses, cars, water guns and more make up this weekend’s list of events to see

Canadians fear for relatives trapped amid flooding in Indian state of Kerala

More than 800,000people have been displaced by floods and landslides

IndyCar driver Wickens flown to hospital after scary crash

IndyCar said Wickens was awake and alert as he was taken to a hospital

Ex-BCTF president ‘undeterred’ after early release from pipeline protest jail term

Susan Lambert and Order of Canada recipient Jean Swanson released early

Fast food chains look to capitalize on vegetarian, vegan trend with new items

Seven per cent of Canadians consider themselves vegetarians and 2.3 per cent identify as vegans

‘Hard on water:’ Smoke not the only long-range effect of wildfires

The project began more than 10 years ago after southern Alberta’s 2003 Lost Creek fire

B.C. VIEWS: Genuine aboriginal rights are misused and discredited

Camp Cloud one of long line of protests falsely asserting title

Prime Minister Justin Trudeau to march in Montreal’s Pride parade

Trudeau will end the day in his home riding of Papineau

Most Read