Printer Friendly

-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 info@m2.com))

COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Sep 5, 2011
Words:128
Previous Article:-Barclays to lend GBP3.4m to Aquamarine Power.
Next Article:-EIB raises volume of 2016 bond by NOK250m.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters