Banco Popolare's one billion euro capital increase starts on Monday 6 June. The new shares will be issued at a value of 2,14 euros each, with a discount of 29,3%. Shareholders will be able to avail themselves of the option of 9 new shares for every 7 already held.
The rights will be negotiable until 16 June. The increase can instead be subscribed until 22 June.
The capital increase, imposed by the ECB to strengthen the capital solidity of the Veronese bank led by Pier Francesco Saviotti in view of the year-end wedding with the Bpm, is obviously at the center of attention of the market which looks with diffidence at Italian bank stocks and capital increases.
Mediobanca and Merrill Lynch, which are in the guarantee syndicate, however say they are fully confident in the successful outcome of the operation, which, at issue prices, is particularly convenient.
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