March 20, 2013 / 9:28 AM / in 5 years

Carige cap hike to total 400 mln euros-chairman

MILAN, March 20 (Reuters) - A planned capital increase at Italy’s Banca Carige will total 400 million euros ($515.46 million), the lender’s Chairman Giovanni Berneschi said on Wednesday.

The bank has said it needs to strengthen its capital by 800 million euros and will do so partly through asset sales and partly through a rights issue.

Asked about the amount of the capital increase, Berneschi told reporters: “It will be half of the plan, 400 million euros.”

The shares extended losses after his comments, and were down 4.6 percent at 0.56 euros by 0923 GMT.

$1 = 0.7760 euros Reporting By Gianluca Semeraro, editing by Silvia Aloisi

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