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Italian bank BPER to launch cash call on June 23
June 18, 2014 / 5:47 PM / 3 years ago

Italian bank BPER to launch cash call on June 23

MILAN, June 18 (Reuters) - Banca Popolare dell‘Emilia Romagna said on Wednesday it had got the approval of Italian market regulator Consob for its planned 750 million-euro ($1 billion) rights share offer, which will open on June 23.

The offer closes on July 18, Italy’s sixth-largest bank by branches said in a statement.

The rights options will trade separately on the Milan stock exchange from June 23 until July 11.

BPER is among the 15 Italian banks due to undergo balance sheet health checks by the European Central Bank before the ECB becomes the euro zone banks’ main regulator later this year. ($1=0.7368 euros)

Reporting by Francesca Landini; Editing by Greg Mahlich

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