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Creval sells unexercised rights in €700M capital increase

Italian lender Credito Valtellinese SpA said it has sold all 1,870,923 unexercised rights in the offer period for its €700 million capital increase.

The rights to the subscription of 1,180,552,413 new ordinary shares for a total of €118.1 million will lapse if not exercised no later than March 20.

Of 6,996,605,613 new ordinary shares issued by the bank, around 83% worth roughly €582 million were sold during the offer period from Feb. 19 and March 8.