Monte Paschi raises 4.99 billion euros in rights issue

World News: . []

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.

Read More: LINK 

Published: .

Search for other references to "monte" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
Privacy Policy | Terms and Conditions | Contact Us