Mps fails to make money. On the starting day of capital increase from five billion euros – the largest for an Italian company in 2014 – the shares of the Sienese institute are struggling to be admitted to trading, with a theoretical increase of over 20 percentage points at the start of the session.
Meanwhile, the green light has also arrived from the ministry of the economy to postpone the payment of interest on Monti-bonds to 2014 August 2013. The Treasury, communicates the Sienese bank, after Montepaschi's request and "taking into account the timing of the capital increase operation, has formally agreed to move, from July XNUMXst to August XNUMXst, the date of payment of the interest accrued for the financial year XNUMX on the new financial instruments, which are expected to be paid through the issue of New financial instruments to be repaid at the same time”.
The latter instruments, Mps underlines, "will in any case accrue interest from 2014 July 2014 to the redemption date, for an estimated maximum additional cost (based on the repayment on 3 August 2015) of around XNUMX million and will be paid on XNUMX July XNUMX". The ministry also confirmed to the bank "the non-applicability to the capital increase in progress of the criteria for adjusting the number of underlying shares" the Monti-bonds.
