The second day of the capital increase starts badly for Banca Carige. By mid-morning, the Ligurian bank's share on the Stock Exchange fell by 4,9%, to 1,669 euros, after the +1,8% recorded at the end of yesterday's session. Rights also down, leaving 4,77% on the field in the same minutes.
In any case, the president Cesare Castelbarco he said he was confident about the outcome of the recapitalization and announced that a decision on the sale of Banca Cesare Ponti would be taken at the end of the month.
The capital increase in progress is valid 850 million euro and envisages the issue of 726.216.456 new shares, sold at a price of 1,17 euros, equal to a 32% discount on the Terp and 79% on the closing price on Friday 5 June (5,605 euros).
The shares will be offered to shareholders at a ratio of 7 for each title held. Friday's closing price was adjusted to €1,724 for shares and €3,88 for rights. Currently therefore shares and rights mark an overall decrease of 6%.
According to analyst forecasts, the structure hyper-dilutive of the increase will cause significant deviations from the theoretical parity values, with ample volatility that could also continue in the next few days.
