Mps, there is a signature on the guarantees. “Highly dilutive” increase, securities offered at 2 euros
[ad_1]
The 2.5 billion euro capital increase of MPS will be “fully guaranteed”. The bank announces this in the note giving an account of the terms with which the recapitalization will be launched. In particular, guarantee agreements were signed for a maximum amount of 857 million euros, of which 807 million euros with a consortium of banks and 50 million with Algebris. The state will inject 1.606 billion euros. Underwriting commitments by individual investors amount to 37 million. There are 25 million committed by Anima.
The MPS capital increase is released: the banks of the consortium will guarantee the operation
by Andrea Greco
The capital increase operation is qualified as “highly dilutive”, reads the note. This implies that the operation will be managed with the “rolling” model, to avoid that, during hyper-diluting capital increases, price anomalies occur on the shares concerned as occurred with Saipem in 2016, in the same MPS in 2015 and 2014 or in the case of Fonsai of 2012.
The shares of the capital increase will be offered at € 2, in a ratio of 374 new for every 3 held.
[ad_2]
Source link
