FinecoBank, the multi-channel direct bank of the UniCredit Group, obtained yesterday from Consob the approval of the prospectus relating to the public offer of sale (OPV) aimed at the admission to trading of its shares on the Electronic Stock Market (MTA), organized and managed by Borsa Italiana SpA
Consob's approval follows the provision with which, also yesterday, Borsa Italiana approved the admission to listing on the MTA. The global sale offer relates to a maximum of 181.883.000 ordinary shares of the Company, corresponding to 30% of the Company's share capital, offered for sale by UniCredit SpA, as Selling Shareholder.
UniCredit SpA will remain a shareholder of the Company even after the listing of FinecoBank, with a stake in the event of full placement of the shares covered by the Global Offer equal to 70% of the share capital without exercise of the option greenshoe and 65,5% following any full exercise of the option greenshoe.
The Global Offer consists of:
– a Public Offer of a minimum of n. 18.188.000 shares, equal to 10% of the Global Offering, aimed at the general public in Italy; within the Public Offer there is a tranche reserved for employees and promoters for a maximum quantity of no. 3.463.000 shares (the “Public Offer");
– a simultaneous institutional placement of a maximum of n. 163.695.000 shares, equal to 90% of the Global Offering, reserved for Qualified Investors in Italy and foreign institutional investors, pursuant to Regulation S of the United States Securities Act of 1933, as subsequently amended, including the United States of America pursuant to Rule 144A enacted pursuant to the United States Securities Act of 1933 (the “Institutional placement").
It is also envisaged that the Selling Shareholder grants the Coordinators of the Global Offer (such as infra defined), also in the name and on behalf of the members of the Consortium for Institutional Placement, of an option greenshoe for the purchase, at the Offer Price, of shares up to a maximum of no. 27.283.000 shares equal to 15% of the shares offered under the Global Offer.
The Option greenshoe may be exercised, in whole or in part, within 30 days following the start date of trading of FinecoBank shares on the MTA. In case of full exercise of the Option green shoe the total number of shares placed would be n. 209.166.000, for a free float equal to 34,5% of the share capital. The Public Offering and the Institutional Placement will start next Monday 16 June 2014 and will end on 26 June 2014.
