La Consob decided to ban for today and tomorrow short sales on Banco Popolare securities. The ban, informs the Commission in a note, was adopted in application of article 23 of the Community Regulation on short selling, taking into account the price variation recorded today by the institute's shares, exceeding the 10% threshold.
The scope of the ban on naked short selling, already in force for all shares since XNUMX November last by virtue of the Community Regulation, is thus extended and strengthened.
In the early afternoon, the stock of Banco Popolare - which at the beginning had had difficulty pricing - travels in the red by more than 12 percentage points, clearly behind the Ftse Mib.
The collapse is explained by the loss of approximately 600 million euros recorded in 2013 and above all by the capital increase of 1,5 billion announced on Friday evening by the institute. The deal will be launched by April, anticipating the next round of recapitalizations linked to the European exams.
The increase will be guaranteed by two global coordinators, Mediobanca and Ubs, who have already signed a pre-agreement to take over any unopted shares.
Thus the Banco burns MPs (3 billion), Bpm (500 million) and Carige (800 million) to name the institutes that will undoubtedly have to knock on the market in the coming months.
