With the capital increase just around the corner, the rain of sales continues share on the MPS Stock Exchange, which today, one hour after the opening, shows a loss of 3% (at 9,38 euros), the worst fall of the Ftse Mib. Already yesterday the shares of Monte dei Paschi had closed trading at the end of the main list of Piazza Affari, leaving 6,8% on the ground, at 9,405 euros.
Meanwhile, this morning the Bank announced that the Consob gave the green light to the prospectus for the 3 billion recapitalization (of which 1,071 billion will be used to repay the residual portion of the Monti bonds, the public loan which in 2012 avoided the bankruptcy of Monte).
The operation will start on Monday 25 May: the option rights for the subscription of the new shares will be exercisable from 25 May to 12 June and negotiable from 25 May to 8 June.
Il board of directors of Mps will meet today to fix the offering price of the new securities. Axa, with a strong 3,7% stake, confirmed its willingness to participate in the increase. Davide Serra of Algebris, on the other hand, clarified that he will not subscribe to any unopted options.
Last week also the European Central Bank had given the green light to the recapitalization of Monte. However, the Eurotower had specified that the operation alone "does not solve the Bank's structural problems" and that two other points of the Capital plan drafted in November remain to be put into practice: the reduction of non-performing loans and the merger with a partner.
