MILAN, June 27 Fineco, the online broker of
Italian bank UniCredit, said on Friday it had priced
its initial public offering at 3.7 euros a share, the bottom of
its revised price range.
In a statement, the broker said its initial market
capitalisation would be equal to 2.243 billion euros ($3.05
billion). This would boost UniCredit's Common Equity Tier 1, the
measure of a bank's financial strength, by 14 basis points.
The improvement in regulatory capital could be of 16 basis
points if the over-allotment option available to underwriters
is exercised in full.
UniCredit is set to cash in between 360 million euros and
410 million euros in capital gain proceeds from the IPO.
Fineco, one of several Italian companies rushing to list on
the Italian stock exchange this year, will debut in Milan on
($1 = 0.7359 Euros)
(Reporting by Lisa Jucca; editing by Elaine Hardcastle)