BreakingviewsItalian IPO to square Godâs work with capitalism
Lisa Jucca
3 minutes read
Pope Francis attends the opening of a meeting of Rome s diocese in Saint John Lateran basilica in Rome, Italy June 16, 2016.
Can God and the stock market coexist? In Italy, the cradle of Roman Catholicism, this seems possible. Automatic door maker FAAC, worth some 2 billion euros, may soon ascend to the Milan exchange. The Vaticanâs Archdiocese of Bologna, which inherited the business in 2012 from its penitent owner, can use the proceeds to fund good deeds. Moreover, the firmâs rapid growth may convince investors their bet is solider than a parish raffle.
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