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Report: Popolare di Bari to raise €500M from investors

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Report: Popolare di Bari to raise €500M from investors

Italian cooperative bank Banca Popolare di Bari SCpA plans to sell up to €300 million of new shares and to issue a €200 million subordinated debt to bolster its balance sheet, Reuters reported, citing a source familiar with the bank's thinking.

The move reportedly comes after Popolare di Bari faced difficulty in raising capital in 2017.

A new business plan and measures aimed at raising capital are expected to be approved at a meeting of the bank's board at the end of January, according to the Jan. 10 report.