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Report: Half of unsubscribed Carige rights sold on 1st day of trading

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Report: Half of unsubscribed Carige rights sold on 1st day of trading

Slightly more than half the unsubscribed rights from Banca Carige SpA's capital raising were sold on the first day they were traded, Reuters reported Dec. 15, citing its own data.

Shareholders subscribed for 66% of the shares on offer in the €500 million transaction, the report noted. The bank has underwriting arrangements with a number of banks to ensure that all rights are eventually exercised.

The rights trading period lasts for five days, having begun Dec. 15.