banks
Milan , August 30, 2015 – 18:13
VICENZA Revolution popular. Banca Popolare di Vicenza will go on the stock market through a real IPO. A choice of breaking with the past, projecting the Beric banking institution into a new dimension, that of finance to 360 degrees and open markets. It will be the market and not the board of directors to fix the price of the shares of Vicenza, already by the spring. This was announced in an interview the managing director Francesco Iorio, in office since June 1.
Iorio, we are the third capital increase in three years …
“It is a vital task for secure the future. We aim for a CET1 indicator to 12 percent, from the current 6.81 and so we want to collect up to a half billion. Up, because that is the maximum amount. “
At what price?
” There will be an increase in capital as the last. The share price will decide the market. We will make a real IPO ( initial public offering , initial public offering), and we are evaluating the option a book building ‘.
So no pre-defined price, no discount on the current 48 euro?
“No. The price will make the market and the value probably will be formed through a mechanism of book building . Who wants to make an offer to buy the shares. More will be high demand, the higher the price. “
Another surprise for members. How shall turn it digest?
“I think that would be a double error if there was an irrational reaction that would lead to yield the title at the worst time. I do see an opportunity in the price of the capital increase and we have to study the mechanisms of reward for older members …. “
What is the time?
” On paper we would like everything – the assembly for processing into spa, pricing and the increase, which will be contextual – would end by the first quarter 2016. The day after the conclusion of the increase bank will be listed. “
is an operation new. But she, who has made him do leave Ubi?
“I am convinced it is better to be the first in a small village in Gaul that the second in Rome …”.
What he found when he arrived in Vicenza?
“I found the inspectors of the ECB which were concluding an inspection of four months, which highlighted the difficulties in the bank.”
The inspection revealed a shortage of capital?
“No. Given that we are still awaiting the final outcome, the inspection did not indicate a lack of capital in the technical sense, but the presence of loans related to the purchase of shares in the bank. Ie, lines of credit opened and used for the purchase of stocks “.
That is, the bank has financed those who underwrote shares of the bank itself?
” Yes. “
> How much is all of these operations?
“The total is just under one billion.”
A low blow …
“The good thing is that this heritage is a potential capital increase embedded in the bank. These trust granted to major customers, I expect that in time it is returned. At that point the capital returns eligible … ‘.
This billion is missing is the final figure will emerge or other?
“Basically it’s all”.
But it is the ECB that is too severe or past the Vicenza has lent money to those who did not deserve credit?
“The ECB is not severe. The ECB simply says, I rate you in two ways: the internal risk control, and here you have not been very good, and then the ability to generate income in the future. Then, seeing the loans, it was an ‘undercover’ than the market average. Today, however, we are only one percentage point below average in March was 5.5 percent. “
His relationship with President Gianni Zonin?
” With President and with the council, we provided a common path that will bring us together and shared certainly until spring. ”
And expectations aggregations?
“We are not in a position to make them. Strengthening is also designed to be able to allow the bank to negotiate at par any eventual merger plan. “
But just a year ago it was said that, concluded the increase in 2014, Banca Popolare di Vicenza was in conditions and not be subject aggregating aggregate …
“The facts show that those funds to the capital increase did not put the bank in a position to be aggregating center …”.
> He’s opening a hypothesis for future lonely?
“I’m opening in a case of strengthening that allows the bank to choose to be alone, if married and with whom.”
Do you think the small shareholder: when will it all end?
“If you are asking me when the title will return to 62.5 euro, I can not answer. But I am confident that next year this bank will return to profit and it is hoped that in the spring 2017 will pay the dividend. “
© ALL RIGHTS RESERVED
August 30, 2015 (modified August 30, 2015 | 18:13)
© ALL RIGHTS RESERVED
No comments:
Post a Comment