FinecoBank to trade on Borsa Italiana at €3.70 per share

Italy’s FinecoBank, UniCredit’s online bank, will start to trade its shares on Borsa Italiana’s MTA from 2 July.

After obtaining the approval of Italy’s regulatory authority Consob earlier in June, UniCredit announced that the capitalisation of FinecoBank, calculated on the basis of the offer price, will be equal to €2.243bn.

The IPO involved 181,883,000 ordinary shares, sold by UniCredit, up to a maximum of 30% of the company’s share capital (34.5% if the Greenshoe option is fully exercised).

UniCredit will remain a shareholder of the Company after the listing of FinecoBank, with a holding, in the event of full placement of the global offer, of 70% of the share capital if the over-allotment option is not exercised, and 65.5% if the over-allotment option is fully exercised.

The joint global coordinators were UBS Investment Bank and UniCredit Corporate & Investment Banking who, together with Mediobanca – Banca di Credito Finanziario S.p.A., are also acting as joint bookrunners.

The appointed legal advisers are Bonelli Erede Pappalardo and Cleary Gottlieb Steen & Hamilton for FinecoBank, and Linklaters for the Joint Global Coordinators and the Joint Bookrunners.

“FinecoBank’s listing is part of UniCredit’s strategic plan and will facilitate the unlocking of the full potential of this top class organisation”, noted Federico Ghizzoni, CEO of UniCredit.

“The listing is designed to further boost FinecoBank’s growth and UniCredit will continue to be the majority shareholder,” he concluded.

“Fineco’s listing marks a particularly important step in our growth. The listing will enable us to fully leverage the Company’s potential thanks to the benefits of greater transparency, visibility and efficiency that will result from opening up to the market,” added Alessandro Foti, Managing Director of FinecoBank.



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