February 3, 2017 / 2:07 PM / 8 months ago

UniCredit estimates share issue costs at up to 500 mln euros

MILAN, Feb 3 (Reuters) - Italy’s biggest bank UniCredit estimated on Friday a 13 billion euro ($14 billion) share offer it will launch on Monday would cost it up to 500 million euros.

“The offer’s overall expenses - including the maximum amount of fees to be paid to the underwriting consortium - is estimated, at most, at around 500 million euros,” the bank said in an offer document published on its website.

UniCredit has a group of 30 banks that has committed to take on any unsold shares in Italy’s biggest ever share issue.

$1 = 0.9303 euros Reporting by Silvia Aloisi; editing by Agnieszka FLak

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