It kicks off this morning the capital increase of Banco Popolare, which will offer ordinary shares in the ratio of 17 new shares for every 18 shares held, at a unit price of 9 euros. The operation will end on April 17, while the rights relating to the capital increase will be listed until April 10.
The recapitalization of the Veronese institute becomes necessary, after 2013 closed with a deficit of 606 million euros, due to write-downs on loans for 1,7 billion.
The price of 9 euros corresponds to a 30,7% discount on the Terp, the theoretical price after the detachment of the right, set at 4,372 euros. Therefore, the stock should be worth 12,99 euros, but based on Friday's closing figure (18 euros), today it would be worth 13,63 euros post-extangle. In theory, with the start of negotiations it should rise to 12,99 euros.
It was also decided the incorporation of Credito Bergamasco in the parent company Banco Popolare, setting the ratio between each share of the subsidiary and each of Banco Popolare at 1,412.
At the opening in Piazza Affari, the Banco Popolare share gained more than three and a half percentage points, to 14,14 euros. The shares of Credito Bergamo, on the other hand, are up 1,64%.
