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Shareholders of Rome-based construction group Astaldi SpA approved plans for a listing of about a 40% stake on the STAR segment of the Milan stock exchange in an IPo expected by this summer. STAR is the market segment for small and mid-sized companies that agree to meet higher standards of liquidity, transparency and corporate governance. Italian investment banks Mediocredito Centrale, a unit of Banca di Roma, and Interbanca are the joint global coordinators while Commerzbank AG is co-global coordinator, responsible for the international placement. Lazard is Astaldi's adviser. The Astaldi family controls the company while Banca Di Roma and Interbanca own minority shareholdings. Astaldi has said the listing will help it consolidate its strength as a general contractor in construction and that the IPO could help it finance acquisitions. The company posted revenues of Euro 843 million ($744 million) in 2001, up from Euro 832 million in 2000. Gross operating profit rose 42.5% to Euro 148 million while net profit rose to Euro 30 million from Euro 11.5 million. www.TheDeal.com