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18 September 2020
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 Financial

After Ftse Mib, INWIT also included in STOXX 600

Rome, 18 September 2020 – After being added, on 22 June 2020, to the main Italian Stock Exchange index, FTSE MIB, comprising the shares of the 40 Italian companies with the highest market capitalisation, INWIT also joins one of the main European indexes.

From 21 september, the shares of the leading Italian company for TLC wireless infrastructure will be included in the important share index, STOXX® Europe 600. An offshoot of the STOXX Europe Total Market Index (TMI) and a subset of the STOXX Global 1800 index, Europe 600 comprises 600 of the main European market capitalisations and was designed by STOXX Limited.

It includes companies capitalised in 17 European countries, both in and outside the Euro-zone, such as Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Poland, Portugal and Spain, as well as Denmark, Norway, United Kingdom, Sweden and Switzerland. The companies in the index cover 90% of European stock market capitalisation.

Given its considerable market exposure, financial analysts often consider the STOXX Europe 600 index as the European equivalent of the S&P 500, representing the United States.

INWIT’s inclusion in the Ftse Mib index first and now the STOXX EUROPE 600 is the result of its incorporation with Vodafone Towers, which led to the birth of the leading wireless telecommunications infrastructure operator in Italy and the second at European level with more than 22 thousand towers spread across the country. Despite the economic-financial crisis linked to the Covid-19 pandemic, growth prospects are extremely solid and essentially linked to implementing and managing infrastructure that supports fast, efficient deployment of 5G by TLC operators.

Moreover, we have recorded important recent results acknowledging how solid INWIT business is: the listing process for shares issued in relation to the merger has been completed; the primary ratings agencies have assigned positive judgements to INWIT (BB+ from Standard&Poors and BBB- from Fitch, equal to investment grade); we have joined the debt market for the first time issuing a bond for 1 billion. Great interest has been shown with a demand from quality investors all over Europe that was about 4.5 times the allocation.