The Boards of Banco Popolare e Bergamasco credit have the exchange ratio in view of the merger of the two banks. The operation, which will take place through the incorporation of the second institute into the first, therefore envisages that 11,5 Banco Popolare ordinary shares will be offered for each Credito Bergamasco ordinary share.
The decision, taken with the support of financial advisors - a press release states - came in light of the official price of Banco Popolare on 14 February last (1,457 euro per share) and assuming the issue of new Banco Popolare shares (in execution of the capital increase) without discount.
One hour after the start of trading, Banco Popolare shares dropped 0,61%, while Cre sharesberg they fall by more than two and a half percentage points.
