BPER Banca sets price for €800m rights offer

By Aidan Gregory
30 Sep 2020

BPER Banca, the Modena-based banking group, has unveiled the terms for a €800m rights issue to fund an acquisition of hundreds of branches across northern Italy from Intesa Sanpaolo.

The fully underwritten eight-for-five deal is expected to be priced in October. At €0.90 a share, the rights issue will give investors a 30.1% discount to the theoretical ex-rights price. BPER Banca will issue 891.4m new shares as part of the transaction.

Shares in BPER were ...

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