Shines on the stock exchange Bpm bank. Enasarco Foundation, in fact, as announced on Monday evening with the markets closed, concluded the purchase of 29.850.000 ordinary shares of the Piazza Meda institute, equal to approximately 1,97% of the share capitalthrough a "reverse accelerated bookbuilding" procedure aimed exclusively at qualified investors and foreign institutional investors.
The consideration for the purchase of the shares is equal to 3,40 euro for each share, for one total outlay of approximately 101,5 million and the settlement of the operation will take place on December 15th. Intesa Sanpaolo's IMI Corporate & Investment Banking division acted as sole bookrunner for the transaction.
These are the two novelties at Banco Bpm, which snatched this morning from Piazza Affari, where it gained up to +4% at the head of the Ftse Mib, to then settle towards the end of the morning at + 3,7% (3,277 euros against a starting price of 3,16 euros at the opening of the quotations) following the entry of the Enasarco Foundation with 1,97% of the share capital of the Piazza Meda institute.
The operation closed at 3,40 euros for each share, "corresponding to a premium of 8% compared to the closing price of the share", calculate the experts of Equity.
In recent weeks, the analysts reconstruct, various press rumors had hypothesized the Foundation's interest in entering the bank's capital and participating in the consultation pact (of which many foundations and social security institutions are now part) which to date collects around 8% of Banco Bpm. "The eventual entry of Enasarco would lead the consultation pact to represent around 10% of Banco's capital, above the leading shareholder Credit Agricole (at 9,2%)".
Not only. Sim believes that Enasarco's move, "in addition to being driven by evaluation logics, can also be seen in terms of bank governance (the renewal of the board of directors is scheduled for April 2023 with the outgoing board presenting its own list) and from the desire to build a solid base of national shareholders capable of having weight in the event of M&A operations”.
In the meantime, investors are rewarding the stock in Piazza Affari, where it remains one of the best in 2022, with a gain of around 24% from January to today.
