Shares of Italian bank Unicredit are now falling sharply after this morning setting the price for a €7.5bn capital increase.
The offering has been priced at a 43% discount to the shares theoretical value excluding the rights, or 1.943 Euros per each share. Unicredit will offer two shares for every one held.
According to some analysts that is the largest discount offered to date on a capital increase by any European bank.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares of Unicredit were earlier suspended 'limit-down' and at 9:51AM are trading lower by 7.03%, to €5.885, after earlier on having fallen by nearly 10%.
AB
-
Watch out for fake Steven Bartlett video – you could lose thousandsScammers are trying to tap into the Trump tariffs chaos, but knowing what to look out for could save you thousands of pounds, says Kalpana Fitzpatrick
-
Can Donald Trump fire Jay Powell – and what do his threats mean for investors?Donald Trump has been vocal in his criticism of Jerome "Jay" Powell, chairman of the Federal Reserve. What do his threats to fire him mean for markets and investors?
