Investing.com UK - Financial Markets Worldwide
Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Banco Popolare says successfully closed 1.5 billion euros share sale

Published 17/04/2014, 18:45

MILAN (Reuters) - Banco Popolare said on Thursday it had successfully closed its capital increase for 1.5 billion euros (1.2 billion pounds), the first Italian lender to tap the market for funds ahead of Europe-wide health check of the sector.

Banco Popolare, one of 15 Italian lenders under scrutiny in the asset review by European regulators, said in a statement the share sale had been 99.14 percent subscribed.

The capital increase was fully underwritten by a consortium of banks headed by Mediobanca and UBS .

Banco Popolare and seven other Italian banks have announced plans to raise a combined 8 billion euros to boost their capital base before the results of the review are revealed later this year.

That amount is likely to increase to 10 billion euros on Friday as Monte dei Paschi di Siena's board is expected to hike the size of its own rights issue to 5 billion euros from the 3 billion euros previously pencilled in.

(Reporting by Silvia Aloisi)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.