IL Ministry of Economy and Finance one has been sold on the market 25% stake of Banca Monte dei Paschi di Sienna, rescued with nationalization in 2017 and now subject to impending privatization. In fact, the entire 64% stake in state hands must be liquidated by mid-2024, according to the road map agreed by the Italian government with Brussels.
This was also confirmed recently Minister Giancarlo Giorgettito select MPS among the privatizations envisaged by the budgetWill be implemented in the next year.
sale of 25% stake
Me honey, after announcing last night quick book creation (Accelerated Order Collection Process) reserved for Italian and foreign institutional investors, the sale of which was confirmed this morning 314,922,429 ordinary shares Banca Monte dei Paschi di Sienna, equal to 25% of the share capital.
in front of one Demand equal to more than 5 times the amount collected Initially, the offer was increased from 20% to 25% of the share capital of BMPS.
BofA Securities, Jefferies and UBS Investment Bank acted as joint global coordinators and joint bookrunners. MEF, together with the Joint Global Coordinators and the Joint Bookrunners, have committed not to sell any more shares of BMPS in the market for a period of 90 days. The transaction will settle on November 23, 2023.
IL return per share was decided in 2,92 eurosfor one opposite value total approximately equal 920 million Euro, and includes a discount equal to 4.9% compared to the closing price of the Bank’s shares recorded on 20 November 2023 and approximately 50% more than the subscription price of the increase in the Bank’s share capital received in November 2022.
stock market crash
right there “discount” sales punishing them MPS shares today BourseTo. The title actually refers to a decline of more than 6% At 2.885 euros per share, there is very heavy trading with more than 39.5 million shares already changing hands in an hour of trading.
MEF still has 39% left
After Operation, MEF holds stake in Monte Paschi Will reduce from 64.23% to 39.23% Almost all of the share capital, which MEF is obliged to sell within one year, based on commitments agreed by Italy with the EU competition authorities.
The operation represents the first stage of a comprehensive process that will lead the MEF to fully enhance the Bank, equally and in the interests of all stakeholders, in the context of the solid capital and income framework that characterizes the Bank and its further prospects. . Development.