Banca Carige SpA will seek shareholder approval at an extraordinary meeting on Sept. 20 for its planned capital increase, which is part of its €900 million rescue plan, Reuters reported Aug. 19.
The rescue plan includes a share capital increase of €700 million and an issuance of €200 million of new subordinated bonds, as well as a full-scale disposal of €3.1 billion of nonperforming loans.
The Italian bank's temporary administrators and a consortium of investors led by the Italian deposit protection fund recently agreed on a binding framework to help rescue the struggling lender.
The ECB cleared the rescue plan in the week of Aug. 12, the newswire cited sources as saying.
