Italy's BPER to raise 750 million euros in share sale
MILAN May 6 (Reuters) - Banca Popolare dell'Emilia Romagna (BPER) became on Tuesday the latest Italian lender planning to tap investors for cash in coming months as it announced a 750 million euro ($1 billion) rights issue to strengthen its capital base.
Italy's sixth-largest bank by branches is among 15 in the country being scrutinised by the European Central Bank this year as part of a check-up of the sector across the euro zone.
Nine of the 15 are now planning to raise nearly 11 billion euros in fresh capital.
BPER said in a statement it would seek to carry out the share sale by the end of July.
The bank said its best-quality Common Equity Tier 1 capital under Basel III rules would stand at 10.44 percent after the cash call. ($1 = 0.7177 Euros) (Reporting by Valentina Za; editing by Francesca Landini)
- U.S. and Arab allies launch first strikes on fighters in Syria |
- Israel downs Syrian warplane it says violated its Golan airspace
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Qatar adamant it will host 2022 World Cup despite doubts
- U.S. attack on IS targets in Syria "will be answered" - fighter