Bolzoni SpA shareholders have approved a listing project at a meeting in Piacenza, Italy, which will see its shares offered to the Italian public and institutional investors.

They also approved an increase in capital to support the process to admit ordinary corporate shares to the Segment for Stock with High Requisites (STAR) in the Italian Stock Exchange's computerised stock trading market.

The process is a global offer divided into a public offer of sale & subscription, aimed at the Italian public, and a private placing aimed at Italian and foreign institutional investors. The latter excludes the USA, Canada, Japan and Australia.

Bolzoni said in a statement that the process was part of a strategy to consolidate its leadership in Europe, strengthen its geographical expansion policy, search for new business opportunities, improve the company's processes and develop innovative products.

Bolzoni is a multinational group manufacturing forklift attachments worldwide. It has 16 subsidiaries, six of which are manufacturing plants in Italy, the USA, Finland, Estonia, Spain and China. In 2004, the group's turnover totalled EUR84 million (USD99.8 million). Net profit rose from EUR1.36 million (USD1.62 million) in 2003 to EUR1.71 million (USD2.03 million) in 2004.

Banca IMI and Banca Cabato will act as joint global co-ordinators in the listing operation and as joint book runners and joint lead managers for the institutional placement.