\r\nBetween 35 and 40% of Italo-NTV\u2019s share capital will be offered exclusively to institutional investors in Italy and outside of the United States. The offer is expected to be completed in February subject to market conditions - national elections on March 4 might delay the flotation.\r\n \r\nItalo-NTV, which launched in 2012, made its first profit in 2015 and has continuously improved its financial performance. In 2017, the company saw revenue grow by 24.8% to \u20ac454.9m. Editda improved by 64% to \u20ac155.7m with a net profit of \u20ac33.8m. Italo-NTV declared a dividend of \u20ac30m payable in July.\r\nIn its application, Italo-NTV says it has a 35% share in terms of passenger-km of the Italian high-speed rail market on the routes it operates. It plans to launch a new service in May between Turin, Milan, Verona and Venice.\r\nIn an interview with Reuters, Italo-NTV\u2019s chairman Mr Luca Cordero di Montezemolo says the company is looking for a partner and core investors in order to launch a new service outside Italy. He says Italo-NTV would be a minority shareholder to provide its expertise.