Consob yesterday approved the prospectus relating to the capital increase of Banco Popolare by 1,5 billion, while the bank's board of directors approved the definitive terms of the offer. The latter provide for an overall increase of 1,498 billion, divisible, in a single tranche, through the issue of 166.473.775 ordinary shares.
The option ratio has been established at the rate of 17 ordinary shares for every 18 shares held. The shares will be offered at the price of 9 euro each, equal to a discount of 30,7% compared to the Terp calculated on the closing prices of 26 March 2014.
Yesterday the stock closed at 16,83 euros. The offer calendar provides that the option rights must be exercised, under penalty of forfeiture, from 31 March to 17 April.
The operation leaves the markets lukewarm at the moment: at the opening of the session, the title Banco Popolare loses 0,18% in Piazza Affari.
