It might seem paradoxical, but it is reality: the greatest risk that Veneto Banca runs after the start of the capital increase is that the latter is "too successful". In the event that the shareholders adhere to the recapitalization to a decidedly higher extent than expected, holding a percentage higher than 50 per cent of the institute's capital, some problems could arise.
The reason was explained by the general manager Cristiano Carrus answering the reporters' questions during the presentation of the recapitalization project and listing on the Stock Exchange of the Veneto institute: "The Atlante fund has sub-guaranteed on condition that it has 50,1% of the capital".
In the event that this scenario occurs, of course Atlante could decide to waive the condition of having the majority, "but it is a decision that only Atlante can make, not us," noted Carrus. The banker then explained that the guarantee of the operation is entirely transferred to Atlante and that therefore in no case could it go back to the banks of the placement syndicate.
The Bank's Board of Directors however said it was "very optimistic" on the outcome of the capital increase, aimed at the IPO. Carlotta De Franceschi, President of the executive committee of the Veneto bank, declared during a press conference that "We seem to perceive enthusiasm and activism from the local area and we are working tirelessly to complete the strengthening of this bank" .
