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.
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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%.
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