UBI reveals rights terms

01 Jun 2011

UBI Banca on Wednesday set the terms for its Eu1bn rights issue and appointed a syndicate of 16 banks for the deal.

The bank will offer eight new shares for every 21 shares or convertible bonds, at Eu3.808 each, a 22.43% discount to the theoretical ex-rights price. The subscription period starts on June 6 and runs until June 24, with rights trading ending a week earlier.

Mediobanca had in April provided the pre-underwriting of the transaction ...

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