Monte Paschi raises 4.99 billion euros in rights issue

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Man walks on a logo of the Monte Dei Paschi Di Siena bank in RomeBy Lisa Jucca and Stefano Bernabei MILAN (Reuters) - Italy's Banca Monte dei Paschi di Siena said on Friday it had raised 4.99 billion euros ($6.81 billion) through a sale of new shares, allowing it to repay much of its state aid and increasing chances it could pass an EU review of bank assets. Monte dei Paschi, Italy's No.3 bank by branches, is one of 15 Italian lenders targeted in a health check of euro zone lenders by the European Central Bank (ECB) before it takes over supervision of the sector in November. In a statement, Monte Paschi said the highly-dilutive rights issue was 99.85 percent subscribed, adding that unsubscribed rights will be offered on the market on July 1-7. "It's a positive result for the bank and the government," Chief Executive Fabrizio Viola said in the statement.


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