Italy's Carige says rights issue 99.9 pct subscribed

MILAN, July 4 Fri Jul 4, 2014 12:50pm EDT

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MILAN, July 4 (Reuters) - Italian mid-sized lender Banca Carige said on Friday it had raised 798.2 million euros ($1.09 billion) in a rights issue, strengthening its balance sheet ahead of a European review of banking assets.

In a statement, the Genoa-based lender said the highly-dilutive share sale was 99.9 percent subscribed, adding that unsubscribed rights will be offered on the market July 8-14.

Carige, one of a series of Italian banks tapping markets before the review, priced the new shares at a 40 percent discount to the stock price when excluding subscription rights. ($1 = 0.7331 Euros) (Reporting by Danilo Masoni; editing by Oleg Vukmanovic)

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