The placement of starts this morning Fineco. Unicredit will sell up to 30% of the capital but the free float, in the event of exercising the greenshoe option (equal to 15% of the offer which will close on 26 June), will rise to 34,5%. The transaction envisages an amount between a minimum of 2,12 billion and a maximum of 2,66 billion euro, equal to a minimum of 3,5 euro per share and a maximum of 4,4 euro per share.
Applications for participation in the public offer by the general public must be submitted exclusively to the placers for minimum quantities of 1.000 shares or multiples thereof, or for minimum quantities of 10.000 shares or multiples thereof. Payment of the assigned shares must be made by 2 July 2014 to the placer who received the subscription, without additional commissions or expenses to be borne by the subscriber.
The potential capital gain for Unicredit is between 200-450 million euros, but above all the operation has a major impact on the improvement of the Common Equity Tier 1 ratio, i.e. the primary capital component of the bank. The capitalization index of Piazza Cordusio could touch 10% at the end of 2014 against 9,4% in December 2013.
