UniCredit acts fast to sell FinecoBank block

By Sam Kerr
08 May 2019

UniCredit surprised investors with its speed when it sold a €1bn block in FinecoBank on Tuesday — the same day it announced that it would seek to reduce its stake in the online brokerage.

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

The trade was covered half an hour after it launched and the banks subsequently released price guidance of €9.75-€9.80 a share. The deal was priced at ...

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