Mps, 24,9 € the maximum price of the capital increase – Milano Finanza

The recapitalization by 5 billion euros to Monte dei Paschi you will make by the end of the year. Has notified the bank of siena at the end of the meeting of the board of directors has also confirmed the maximum price increased 24.9 euro per share. 35% of the increase will be earmarked for retail investors and Italian and, of this, at least 30% will be given in the pre-emptive rights to the shareholders Mps . The remaining 65% will be reserved to institutional investors in Italy and abroad.

In addition, the summits have reaffirmed the intention to extend the offer of conversion to securities in Fresh 2008 in the tenders Lme, “having been completed, further information of a technical nature”. By including these values, therefore, the maximum amount has been set to 4,511 billion euro, inclusive of any share premium, in contrast to 4,289 billion announced last November 24.

Similarly, was increased the share capital by payment for a minimum amount of 488.818.426,29 euro, also in this case, inclusive of any share premium, at the service of the global offer through the issue of ordinary shares without nominal value, with regular dividend rights, in the number that the board of directors will set. At the discretion of the board of directors shall be the issue price of the new shares.

any part of the capital increase, Lme signed can finally be incorporated into the increase in Mps , while the latter is not signed may flow in other tranches of the capital increase, in which it registers a situation of excess demand. However, the launch of the offering retail, as well as the proproga of the terms of the exercise of liability management “remain subordinated to the obtaining of the necessary measures for the authorisation by Consob”.

The title Mps to Piazza Affari, at the time increment increases by swapping to to 21.15 euros (+5,43%). In the meantime, Carlo Messina, ceo and managing director of Intesa Sanpaolo , spoke of the situation of the Mps , claiming to believe that the real issue for the bank is “the suffering”. In this regard, “there is the full availability of the fund, the Atlas and buy them. And I think that, from the point of view of the structure of the active, working with the fund, the Atlas can solve most of the problems of the Mountain,” continued the banker, adding that does not exclude a priori the nationalization of the institute.

“I Think that it is essential that Mps can come back to be in a condition of stability for the whole system, but all look only at the market or the state contribution. The biggest contribution the gives Atlas with the purchase of the sufferings,” she concluded.

To support the Atlas on the suffering is also a Land bank, a specialized bank in the sector of servicing and credit management. This morning the ceo of the group, Panfilo Tarantelli, explained that the company is working on portfolios of receivables with a total nominal value of over 40 billion euro, mainly for the Atlas, of which approximately 8 billion related to Popolare di Vicenza and Veneto banca. There are also Mps and the Good Bank. “The due diligence phase was completed on all three operations,” he pointed out the ad. “The phase of implementaione of the securitisation expect it in 2017″.

The parachute to the public remains, however, a valid option. Some sources have reported to Reuters that the Italian government is ready to intervene with a 15-billion to recapitalise the banks in difficulty, if this were to become necessary. In addition to the Mps , on the desk of the executive there would be also the dossier Popolare di Vicenza, Veneto Banca, Banca Carige and, perhaps, the four bridge bank born from the resolution of Bank Brands, Banca Etruria , CariChieti, and CariFerrara.

The ministry of economy has also prepared a scheme to guarantee the liquidity of banks, which has a credit line of 150 billion authorised in the Eu since last summer. The decree, explains one of the entries, will also contain the measures requested by the credit system and remained locked during the examination in parliament of the budget for 2017.

The executive shall authorize in fact, the Bank of Italy to spread in time the new burden which will meet the banks healthy for the difficulties in the sale of four good bank. Another measure will allow to deduct from tax the losses on loans to banks that close their financial statements with a loss or they do not distribute profits, such as the cooperative credit banks (Bcc).