MILAN (Reuters) – Fincantieri (BIT:) has set the price of the capital increase at 2.62 euros per share.
This is what the company announced in a note in which it adds that the subscription price incorporates a discount of 32.2% compared to the Terp of Fincantieri shares based on yesterday’s closing. Fincantieri will issue 152,419,410 new shares to be offered as an option to shareholders at a ratio of 9 new shares for every 10 held.
A few days ago the company carried out a reverse split of its shares at a ratio of 1 new ordinary share for every 10 existing ordinary shares, preparatory to the capital increase.
Fincantieri has signed with the banks – Bnp Paribas (EPA:), Intesa Sanpaolo (BIT:), Jefferies, Jp Morgan (NYSE:) and Mediobanca (BIT:) – a contract of guarantee on the unopted.
The capital increase under option will be for a maximum of 400 million euros, plus up to another 100 million linked to warrants combined free of charge with the new shares. The exercise price of the warrants was set at 4.44 euros per share, with a premium of 14.9% on the Terp.
The capital increase will start on June 24th and end on July 11th.
Full press release
(Sara Rossi, editing Claudia Cristoferi)
