trending Market Intelligence /marketintelligence/en/news-insights/trending/kXH0lYUa1Btn_DiT2uyzlQ2 content esgSubNav
In This List

UBI Banca sets terms for €400M capital increase

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


UBI Banca sets terms for €400M capital increase

Unione di Banche Italiane SpA will seek to raise €400 million from shareholders through a 6-for-35 rights issue.

The bank will issue up to 167,006,712 new ordinary shares at a subscription price of €2.395 per share, a discount of approximately 26.1% to the theoretical ex-rights price based on the lender's June 7 closing price.

Rights to the new shares may be exercised between June 12 and June 27 and can be traded on the Borsa Italiana's MTA between June 12 and June 21. Unexercised rights will be auctioned by the bank on the MTA.

The capital increase is designed to ensure that the bank's capital buffers are maintained throughout the process of integrating three recently acquired rescued Italian banks.

Credit Suisse will serve as global coordinator and book runner on the offering and agreed to take up any shares left unsubscribed at the end of the rights auction, up to the full value of the capital increase. The bank had said June 6 that Credit Suisse and Morgan Stanley would serve as joint global coordinators and joint book runners.