MILAN May 22 Italian mid-sized lender Credito
Valtellinese said on Thursday a planned 400 million
euro ($546.6 million) rights issue would start on Monday after
receiving a green light from Italy's market watchdog.
Investors will have until June 20 to exercise the rights to
buy the new shares. The rights can be traded until June 13
Creval said in a statement its board would meet later on
Thursday to decide the final terms of the share sale.
Creval is one of nine Italian banks currently planning to
tap investors for cash for a total of nearly 11 billion euros in
an effort to strengthen their capital base.
Banco Popolare successfully completed last month a
1.5 billion euro cash call while a 500 million euro rights issue
at Banca Popolare di Milano ends on Friday.
($1 = 0.7318 Euros)
(Reporting by Valentina Za; editing by Francesca Landini)