By Giulia Petroni

Eni SpA on Thursday said that it has postponed the initial public offering in Milan of its Plenitude retail and renewables business due to deteriorating market conditions.

"Even though the companies have seen a strong and widespread interest in Plenitude from investors, as well as significant consensus on its strategy, Eni assessed the volatility and uncertainty currently concerning markets require additional monitoring," the Italian oil-and-gas major said.

Plenitude is currently fully controlled by Eni, and Eni is set to retain a majority stake after the planned IPO on Euronext Milan.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

June 23, 2022 13:03 ET (17:03 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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