Monte Paschi stock is in trouble in Piazza Affari: by mid-morning it was down by 3,99%, currently listed at 0,8425 euro per single share. According to the operators, the Sienese bank was affected by the sale of 450 million of preferred shares by Goldman Sachs, ie 6,7% of the institute's total capital. The preferred shares are automatically converted into ordinary shares.
The operation takes place on behalf of the MPS Foundation, which can thus obtain liquidity to finance its share of the capital increase scheduled in the next few days. The recapitalization should be 2,5 billion and obtain the go-ahead from the MPS assembly on 6 June.
