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November 1, 1999 | Bloomberg News
Italy now expects to raise $19 billion from the sale of more than a third of Enel, the state electricity company, in the largest initial public stock offering ever. Trading will begin Tuesday, and the price is likely to rise steeply. Funds tracking the benchmark Milan stock market indexes that haven't received all the shares they've requested will have to buy more to ensure that their portfolios carry the same weighting of the shares in the indexes, analysts said.
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BUSINESS
November 1, 1999 | Bloomberg News
Italy now expects to raise $19 billion from the sale of more than a third of Enel, the state electricity company, in the largest initial public stock offering ever. Trading will begin Tuesday, and the price is likely to rise steeply. Funds tracking the benchmark Milan stock market indexes that haven't received all the shares they've requested will have to buy more to ensure that their portfolios carry the same weighting of the shares in the indexes, analysts said.
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