It's a sunny Friday in Piazza Affari for the shares of Banca Popolare di Milano, which at the opening gains 3,4%, to 0,7505 euros, achieving the best increase of the entire Ftse Mib.
The buying wave was triggered by the decision relating to the offer price for the 500 million euro capital increase which will start on Monday.
The new shares will be sold at €0,43 each, applying a discount of 31,76% on the theoretical ex-right price (TERP) of the BPM shares calculated on the basis of the official Stock Exchange price of 29 April, equal to €0,7022.
The offer is fully supported by the guarantee of Barclays Bank, Deutsche Bank, London Branch, Jp Morgan Securities and Mediobanca who will act as Joint Global Coordinator and Joint Bookrunner and Citigroup Global Markets Limited who will act as Joint Bookrunner pursuant to a warranty agreement signed today. Banca Akros will act as Joint Global Coordinator.
The offer calendar provides that the option rights, valid for the subscription of newly issued Bpm shares, can be exercised from 5 to 23 May 2014 inclusive, under penalty of forfeiture. The option rights, on the other hand, will also be tradable on the Stock Exchange from 5 to 16 May 2014 inclusive.
