It kicks off this morning the 500 million euro capital increase of Banca Popolare di Milano. On Friday, the institute's share on the Stock Exchange closed flat, at the end of a session that saw it sail over 0,76 euros. During the week, the stock lost 3,4%. Today, however, the shares gained 1,9% at the opening, to 0,66 euros, achieving the best rise of the Ftse Mib.
As for the details of the transaction, the rights will be negotiable until 16 May, while the adjusted reference price is equal to 0,6475 euro and the unit reference value of the rights will be equal to 0,0784 euro. The subscription price will be 0,43 euro, with a ratio of 9 newly issued shares for every 25 shares held. The discount on the theoretical post detachment price of the right is equal to 31,76%.
The increase has a total cost of 26 million euros between expenses and commissions paid to the guarantee consortium. During the week Bpm will also approve the quarterly.
