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-Banca Popolare di Milano sees 81.7% subscription of EUR800m share issue.

BANKING AND CREDIT NEWS-November 22, 2011--Banca Popolare di Milano sees 81.7% subscription of EUR800m share issue(C)2011 M2 COMMUNICATIONS

22 November 2011 - Italian lender Banca Popolare di Milano (BIT:PMI) said its shareholders subscribed 81.7% of its EUR800m (USD1.1bn) capital increase that ended on Friday.

Between 31 October and 18 November, the bank's shareholder exercised option rights to subscribe 2,176,963,202 shares, worth a total EUR653.1m.

The lender said it would offer the 79,337,760 unexercised option rights that subscribe 487,773,512 shares on the stock market, with the timing of the offer to be announced later.

The shares that remain unsubscribed at the end of the stock market offer will be subscribed by joint bookrunners Barclays Bank plc, BNP Paribas (EPA:BNP), Mediobanca (BIT:MB), Nomura International plc, Banco Santander SA (MCE:SAN), Societe Generale Corporate & Investment Banking, the Royal Bank of Scotland (LON:RBS) and co-bookrunner ING Bank NV.

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Publication:M2 Banking & Credit News (BCN)
Date:Nov 22, 2011
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