BPVi, ok Consob prospectus increase next week – Milano Finanza

The ok Consob the prospectus for a 1.75 billion euro capital increase of Banca Popolare di Vicenza is expected to arrive next week. The conditional is a must. “It ‘s possible, we see, then also depends on them if they make the changes,” said this morning the chairman of Consob, Giuseppe Vegas, on the sidelines of the Salone del Risparmio.

In any case, “we will time, “he assured, though not excluding additions. “We are looking at the prospect, we must be cautious because we have to maximally protect those investing: it will be a very careful examination,” he explained the Commission’s number one.

As for the possibility to be extended the time of the guarantee consortium for the capital increase Popolare di Vicenza, Vegas was limited to say that “not depend on us, it is they who must see along with banks who participate in the consortium. we, “he added,” we examine the documents that arrive, we do not choose the first; rightly there must be a division of labor. “

Today gather the board of directors of Banca Popolare di Vicenza and Unicredit , the only guarantor of the consortium, “let’s see what they say.” As leaked yesterday the bank led by Federico Ghizzoni, who for some time has taken on the entire risk of the transaction, would have broken through the inertia by extending the period of the two-week guarantee, ie from 30 April to mid-May, allowing to start the operation.

BPVi, together with Unicredit and joint global coordinator, kicked off today premarketing activities in view of strengthening equity, useful activity also determines the fork stock price and the beginning of the offer. Then, after the green light next week to Consob, the subscription of the capital increase should start in the week of April 18 and the listing on the Milan Stock take place on May 3.

Cattolica Assicurazioni has not yet It decided whether to participate in the capital increase. The company has a small share in the popular, 0.89%, but also a bancassurance agreement until 2020. “If we had only participation we already decided. But it is not so,” said the president, Paul Bedoni, interview. “So we are considering what to do in the exclusive interest of Cattolica. We terminated the contract and we are looking at how they form the consortium. So far we have sufficient guarantees. We will decide when we have all the elements.”

Instead on timing of the arrival of the prospectus for the capital increase of Veneto Banca, Vegas said that will arrive “later, depends on them.” Abi is still confident about the outcome of the capital increases of two Venetian popular. “In recent years the Italian banking system has pulled out 50 billion euro of capital increases and the operations have so far successfully completed now,” said the bank president, Antonio Patuelli, always on the sidelines of the Salone del Risparmio . Especially in the last two years “in any increase made there has been no critical. And these are the premises. Then,” he said, “everything depends on the placement conditions and the price at which the shares are offered. We expect results positive. “