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Shares in UniCredit, cash call rights flat in early trade
February 7, 2017 / 8:23 AM / 10 months ago

Shares in UniCredit, cash call rights flat in early trade

MILAN, Feb 7 (Reuters) - Shares in Italian bank UniCredit and the rights to buy into its record 13 billion euro cash call were little changed at open on Tuesday after suffering steep falls the previous day hit by concerns over rising political risk.

By 0809 GMT shares in UniCredit were down 0.1 percent in line with Italy’s banking stock index.

On Monday, the first day of Italy’s biggest corporate cash call, shares in UniCredit plunged 6.9 percent and subscription rights fell 18.9 percent as selling by investors who do not plan to buy into the share offer was amplified by a market slump for Italian bonds and banking stocks.

Reporting by Valentina Za

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