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UniCredit SpA Approves Offering for Sale up to 9.1% in Bank Polska Kasa Opieki SA


Tuesday, 29 Jan 2013 11:51am EST 

UniCredit SpA announced that, on January 29, 2013, the Board of Directors approved the start of an offering of ordinary shares of the subsidiary Bank Polska Kasa Opieki SA (Bank Pekao SA or Pekao) up to a maximum of 23.9 million shares, totaling approximately 9.1% stake in the share capital of Pekao. The final terms of the offering will be determined through an accelerated bookbuilding and the offering is reserved to institutional investors. The bookbuilding will have immediate start, however UniCredit will retain the right to close the offering any moment. The sale will enable UniCredit to make better use of its capital resources within the Group. At the end of the offering, UniCredit will maintain a stake of at least 50.1% in the share capital of Pekao. For the operation, UniCredit has UBS Limited and UniCredit CA-IB Poland SA as Joint Global Coordinators as well as Citi as Joint Bookrunners for the offering. 

Company Quote

5.795
-0.0050 -0.09%
11 Jul 2014