Milan airport operator Societa Esercizi Aeroportuali SpA said Tuesday that it has approved plans to list as much as 30% of its shares on the Milan stock market.

SEA operates Milan's Linate and Malpensa airports. The city of Milan holds an 84.5% stake in SEA, with other local government bodies holding the rest.

The offer will consist of both retail and institutional portions, and will take place by the end of the year, most likely in October.

Salomon Smith Barney is the global coordinator of the global offer, while Mediobanca SpA (I.MDB) is the co-global coordinator of the public portion of the offer.

By Amanda Kaiser, Dow Jones Newswires