UniCredit has seen its shares suspended for the second time after they plunged almost 10% as it unveiled the price of a €7.5bn (£6.3bn) rights issue.
The troubled Italian bank has announced it will offer its shares for sale at a 43% discount to yesterday's closing price of €1.943 per share, excluding the value of rights, and will offer two shares for each one held. The move is an attempt by the bank to strengthen its capital position, and to comply with European Banking Authority capital ratio requirements. Trading in the stock was also suspended on 1 November when shares fell by 8% following the Greek Prime Minister's call for a referendum over the latest bailout deal. The bank first announced a rights issue on 14 November foll...
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