Morning swing on the Stock Exchange for the title of Banco Popolare on the first day of the capital increase: around 9,30, after an opening of -2% which had brought the value to 2,8 euros per share, the stock returned above 2,9 euros per share. Then the surge until it rose above 3 euros per share, to then return below it by mid-morning. In the last month, however, Banco Popolare has lost 25% of its stock market value, while today the right to buy the new shares loses 13,4% to 0,88 euro, from the reference of 1,02 euro. Small shareholders could sell the rights, according to some traders reported by news agencies.
Today therefore the increase begins da 996,34 million euro, in practice 1 billion, which aims to increase coverage of non-performing loans, the much feared non-performing loans or npls, in view of the merger with Popolare di Milano. In practice, the institute led by Pier Francesco Saviotti is called upon to strengthen its capital base because, by joining forces with Bpm, it will become larger.
The operation will close on 22 June, while the rights associated with the recapitalization will be traded on the stock exchange between today and 16 June. The subscription price of the new securities was set at 2,14 €, with a discount of 29,3 percent compared to the so-called Terp, i.e. the value of the share purified from that of the rights, dated June 2,14st. Shareholders will be able to subscribe for the shares at XNUMX euros each in the ratio of nine new shares for every seven already owned.
