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UniCredit starts FinecoBank separation with €1bn share sale

The formal separation of FinecoBank, the Italian online brokerage, from UniCredit has begun with Italy’s biggest bank selling almost half stake to institutional investors via an equity block trade – a strategy UniCredit has used numerous times in the past to shed non-core assets under its CEO Jean-Pierre Mustier.

  • By Aidan Gregory
  • 07 May 2019

JP Morgan, UBS and UniCredit’s own investment bank are bookrunners on the placing, which consists of up to 103.5m shares, a 17% stake. 

Shares in FinecoBank closed at €10.25 on Tuesday, down 7.45% from the previous close.

According to a note received by investors were covered just before 5:20pm ...

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Bond Comments

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 220,923.99 993 8.24%
2 Citi 207,414.87 865 7.74%
3 Bank of America Merrill Lynch 170,992.39 718 6.38%
4 Barclays 161,566.17 657 6.03%
5 HSBC 132,739.21 719 4.95%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 27,275.91 109 7.96%
2 Credit Agricole CIB 25,297.00 103 7.39%
3 JPMorgan 21,834.93 53 6.37%
4 Bank of America Merrill Lynch 21,222.68 53 6.20%
5 SG Corporate & Investment Banking 16,639.52 78 4.86%

Bookrunners of all EMEA ECM Issuance

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1 JPMorgan 7,363.27 46 9.68%
2 Morgan Stanley 7,283.40 35 9.57%
3 Goldman Sachs 6,673.27 34 8.77%
4 Citi 5,594.80 40 7.35%
5 UBS 4,691.07 23 6.17%