-Italy's Banca Popolare Emilia Romagna to hike capital by EUR174m.
M2 EQUITYBITES-September 5, 2011--Italy's Banca Popolare Emilia Romagna to hike capital by EUR174m(C)2011 M2 COMMUNICATIONS http://www.m2.com
5 September 2011 - The management board of Italian Banca Popolare dell'Emilia Romagna (BIT:EMII) was authorised on Sunday by its shareholders to boost the bank's capital by up EUR174m (USD245.5m) by the close of 2012, the lender said.
As part of the capital increase, the bank will place up to 58m ordinary shares at a nominal price of EUR3 apiece and a premium which is is yet to be set.
In addition, the bank's stakeholders mandated the board to sell bonds convertible into ordinary stock worth up to EUR250m within five years after its endorsement.
((Comments on this story may be sent to email@example.com))