Unipol, FonSai on cusp as auction approaches

21 Aug 2012

The underwriters of the Unipol and Fondiaria-Sai rights issues could be set to launch auctions of unsold rights next week with the shares involved trading above their offer prices.

But volumes remain slight and volatility high while there remains a large quantity of stock to be sold.

Unipol ordinary shares, for instance, traded as much as 2.6% up on Tuesday but then fell 6% and ended up closing 2.8% down on the day. That left the shares ...

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