Eni Not Ruling Out Selling More Shares of Ithaca in Right Market

Eni SpA is not ruling out further share sales in the UK-based oil and natural gas developer Ithaca Energy Plc, though the move isn’t a priority, according to an executive at the Italian company.

Eni is “happy” with its more than 35% stake in Ithaca and is concentrating on the British firm’s production growth, said Guido Brusco, Eni’s chief operating officer for global natural resources. Still, he added, the company’s shares would benefit from a higher free float.

“If the market is appreciative, we’ll increase it, of course,” Brusco said, referring to allowing more shares to trade publicly, ...