June 9, 2014 / 4:26 PM / 3 years ago

Monte Paschi says technical issues help explain cash call's good start

MILAN, June 9 (Reuters) - The chairman of Banca Monte dei Paschi di Siena said on Monday the Italian lender's rights issue got off to a good start partly due to technical issues.

Shares in Monte Paschi closed up 20 percent on Monday at 1.848 euros after launching a 5 billion euros share sale to help repay state aid and bolster its finances.

"It was a good start. But there are also technical issues," Alessandro Profumo said on the sidelines of an event in Milan, referring to the increase in the share price.

The shares had failed to trade throughout the session until the close but they had been indicated higher. ($1 = 0.7345 Euros) (Reporting by Gianluca Semeraro, Writing by Danilo Masoni)

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