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Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
Offer came as markets recovered and volatility fell
Naturgy and Zurich fall in secondary market after jumbo blocks
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UniCredit has dominated the headlines again this week, but this time for a better reason. Italy’s largest bank has also been its biggest loser of shareholder value, its shares falling 75% since last summer, as investors have lost trust in the sector. -
A day after selling 10% of its Italian online retail investment service Fineco Bank for €328m, UniCredit has this evening launched an accelerated bookbuild of 10% of Bank Pekao, the Polish bank of which it owns 50.3%.
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UniCredit’s shares leapt 13.5% today after it declared the beginning of a strategic review of its business after the market close last night. The announcement coincided with the launch of a sale of 10% of one of its finest assets — FinecoBank.
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UniCredit has launched this evening a sale of 10% of FinecoBank, its direct, multichannel banking subsidiary, at the same time as opening a strategic review of its business.
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Russia sold a 10.9% stake in Alrosa, the world’s leading diamond miner, via an accelerated bookbuild which began in the evening on July 6, announcing the pricing on Monday this week.
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Telefónica Internacional carried out the second weekend block trade of the year to raise HK$2.82bn ($363.43m) for its China Unicom sell-down, and the unusual timing worked in the vendor’s favour.
