The surprise announcement by Diego Della Valle it does not inflame the market. The owner of Tod's said he was ready to increase the share capital of RCS from the current 8,7% to over 20% post-increase, exceeding the share reached by Fiat (which otherwise would be the largest shareholder). The publishing group's share on the Stock Exchange gains 0,8% in the mid-morning.
In addition, the shares gained just 0,48% yesterday, despite the exploits of Piazza Affari (+3,4%). RCS recorded a 33% drop on Wednesday, however, which arrived after the +36% recorded between Monday and Tuesday. Fluctuations that have made us think of large exchanges between shareholders, despite the small free float of the group.
Today is the last day to subscribe the rights relating to the capital increase, then the unopted auction will start. Yesterday Della Valle, in a surprise press conference, announced that he will subscribe to the share capital increase for his share and that he could take over the unopted shares from the banks to overcome the Lingotto stake, which has recently risen to 20%. According to the owner of Tod's, the ideal shareholding structure for RCS would be made up of five partners, with shares exceeding 10%.
Meanwhile, Mediobanca and Pirelli communicated that they have exercised the rights, bringing their stakes to 15,1 and 5,3% respectively. The remaining shareholders are Intesa Sanpaolo (5,85%), Fonsai (5,462%,), Pandette (4,2%), Italmobiliare (3,75%).
