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Banca Carige top shareholder to subscribe for €25M more shares in rights issue

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Banca Carige top shareholder to subscribe for €25M more shares in rights issue

Banca Carige SpA said Dec. 22 that main shareholder Malacalza Investimenti Srl will subscribe for 2.5 billion of the remaining unsubscribed 14,425,301,640 newly issued ordinary shares related to the lender's rights issue for €25 million.

Malacalza's overall stake in Banca Carige will rise to 28% at the conclusion of the cash call. Banca Carige noted that the remaining 11,925,301,640 new shares, representing an amount of €119.9 million, will be allocated to Equita SIM SpA on behalf of first-allocation sub-underwriters, followed pari passu by the underwriting syndicate and Equita SIM on behalf of proportional sub-underwriters.

The bank said Dec. 21 that 71% of its cash call had been exercised for about €353.7 million.