Unicredit, following the resolution of its Board of Directors, announces the launch of an offer of ordinary shares of its Polish subsidiary Bank pecao SA, up to approximately 10% of the company's current share capital. The offer, the final terms of which will be determined through an accelerated bookbuilding procedure, is aimed at certain categories of investors
institutional.
Bookbuilding will begin immediately, however Unicredit reserves the right to close the offer at any time. The announcement of the results of the offer is expected following the closing of the books. Unicredit also reserves the right to change the terms or timing of the transaction at any time.
In the plans of the bank in Piazza Gae Aulenti, according to the note issued to the press, "the offer will allow Unicredit to further strengthen its capital structure retaining a controlling interest of Pekao".
The operation follows the placement of 10% of FinecoBank ordinary shares which ended successfully this morning, Tuesday 12 July, and is a further precise indication that Unicredit will act decisively and quickly to seize each incremental opportunity for value creation in line with the renewed drive towards active portfolio management where all assets will be subject to the same disciplined capital management.
For the operation, Unicredit makes use of Morgan Stanley & Co. International plc, Citigroup, UBS Limited and UniCredit Corporate &
Investment Banking as Joint Bookrunners for the Offer. Today the Unicredit a Business Square it closed with a gain of more than 13%, rising clearly above 2 euros per share to 2,10 euros.
