The Ministry of Economy and Finance is accelerating the disposal of shares in Banca MPS:
Via XX Settembre announced that it has initiated the accelerated order collection procedure for the sale of 251,937,942 Banca Monte dei Paschi di Siena SpA ordinary shares, corresponding to approximately 20 percent of the Bank’s capital, through the consortium of banks formed by BofA Securities Europe SA. , Jefferies GmbH and UBS Europe SE, as Joint Global Coordinators and Joint Bookrunners, “for the purpose of promoting the sale of the above-mentioned shares to qualified investors in Italy and foreign institutional investors”.
As part of the operation – we read in a note – “it is envisaged that MEF, together with the Joint Global Coordinators and Joint Leads, undertakes not to further sell the Bank’s shares in the market for 90 days without the Bank’s permission. The Joints themselves are the Global Coordinators and Joint Leads.” “They are the Booking Managers and are subject to exemptions in accordance with market practices. The final terms of the operation will be communicated at the end of the placement.”
Source: Today IT
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