ROME (Dow Jones)--Italian tanker company Finaval SpA said Monday it has filedan application to list its shares on the Italian Stock Exchange.
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The Rome-based company, which has a fleet of 10 vessels and another six underconstruction, said its 2006 net profit was around EUR3.90 million and earningsbefore interest, taxes, depreciation and amortization were about EUR16 millionon time charter revenue of EUR58.3 million.
Finaval, which transports crude oil and oil products, is wholly-owned througha holding company by businessman Giovanni Fagioli.
Finaval said Intesa Sanpaolo SpA's (ISP.MI) unit Banca Caboto SpA and UnipolAssicurazioni SpA's (UNI.MI) investment bank unit are joint global coordinatorsof the initial public offering.
-By Liam Moloney, Dow Jones Newswires; +39 06 678 2543; liam.moloney@dowjones.com
(END) Dow Jones Newswires 07-30-07 1053ET Copyright (c) 2007 Dow Jones & Company, Inc.