Pop Milano sees capital hike by early next year
MILAN Aug 28 (Reuters) - Italy's Banca Popolare di Milano expects a planned 500 million euros ($669.68 million) capital hike to take place by the beginning of next year, chairman of the management board Andrea Bonomi said on Wednesday.
"The management board has not set the timing yet, but it will possibly happen between the end of this year and early next year," he told a conference call following the company's release of first-half results.
Shareholders in Popolare Milano approved the capital increase after the bank reimbursed state aid for a corresponding amount earlier this year. ($1 = 0.7466 euros) (Reporting by Agnieszka Flak, editing by Valentina Za)
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