The Mef’s announcement: “An accelerated order collection procedure has been launched for the sale of 251,937,942 ordinary shares”
The Ministry of Economy and Finance is accelerating the process of divesting its stake in Banca MPS: Via XX Settembre announces that it has started an accelerated procedure for collecting orders for the sale of 251,937,942 ordinary shares of Banca Monte dei Paschi di Siena SpA corresponding to approximately 20% of the Bank’s share capital, through a consortium of banks made up of BofA Securities Europe SA, Jefferies GmbH and UBS Europe SE as Joint Global Coordinators and Joint Bookrunners, “with the aim of promoting the placement of the aforementioned shares with qualified investors in Italy and foreign institutional investors”.
As part of the operation – we read in a note – “is provided that the Mef undertakes with the Joint Global Coordinators and Joint Bookrunners not to sell further shares of the Bank on the market for a period of 90 days without the consent of the Joint Global Coordinators and Joint Bookrunners themselves and unless exempted, as per market practice. The final terms of the transaction will be communicated at the end of the placement.”
Source-www.adnkronos.com