The state-backed shipbuilder will now seek to raise EUR 600m ($833m) from share sales, a statement said.

Its stock is expected to be floated on the Mercato Telematico Azionario market, which is overseen by Borsa Italiana, the company says.

As TradeWinds reported last week, a sale of up to 50% of the company was pending approval in an effort which would see the company listed by mid-June.

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