Fineco will be placed at the price of € 3,7 per share for a capitalization of 2,23 billion euros. 30% of the multi-channel bank's capital will end up on the market, rising to 34,5% with the total exercise of the greenshoe option. Unicredit, the seller bank, will collect 774 million in the event of full exercise of the greenshoe (within 30 days from the start of negotiations) with a capital gain of 410 million and with a benefit of 16 basis points (based on Basel 3) on the Common Equity Tier 1.
Should the greenshoe not be exercised, the bank will collect 673 million euros, with a capital gain of 360 and an impact of 14 basis points on Common Equity Tier 1. The capital gain will be entirely allocated to capital reserves, since even following the global offer, Unicredit will continue to maintain control of FinecoBank on the basis of the international accounting standards Ias/Ifrs.
The landing on the Stock Exchange is confirmed for next Wednesday 2 July, the day on which payment of the reserved shares is expected. The coordinators of the global offer are Ubs Investment Bank and UniCredit Corporate & Investment Banking which, together with Mediobanca – Banca di Credito Finanziario SpA, also act as joint bookrunners. UniCredit Corporate & Investment Banking is also responsible for placement for the public offering. Mediobanca – Banca di Credito Finanziario SpA also acts as sponsor.
The appointed legal advisors are Bonelli Erede Pappalardo and Cleary Gottlieb Steen & Hamilton for FinecoBank, Linklaters for the joint global coordinators and joint bookrunners.
