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Banca Carige shares indicated down 35 pct after pricing of share issue
November 20, 2017 / 10:14 AM / a month ago

Banca Carige shares indicated down 35 pct after pricing of share issue

MILAN, Nov 20 (Reuters) - Shares in Italy’s Banca Carige failed to start trading on Monday and were indicated down more than 30 percent after the mid-tier regional lender priced a highly-dilutive share issue it needs to stave off the threat of being wound down.

The stock was last indicated at 0.095 euros, down 35 percent from its last closing price of 0.1473 euros.

After securing backing from core shareholders and underwriters, Carige said on Saturday it planned to launch the 560 million euro ($661 million) cash call on Nov. 22, offering new shares at 0.01 euros each. (Reporting by Agnieszka Flak)

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