June 20, 2014 / 7:33 AM / 4 years ago

Shares in BPER up 1 pct in early trade after terms of share sale

MILAN, June 20 (Reuters) - Shares in Banca Popolare Emilia Romagna (BPER) rose about 1 percent in early trade on Friday after the Italian mid-sized lender set the price at which it will offer new shares in a 750 million euro stock sale that starts on Monday.

The bank priced the new shares at 5.14 euros each on Thursday, offering 7 new ones every 16 already owned.

That represents a 26.5 percent discount to the price of the stock when excluding subscription rights, a smaller discount than that applied by peers so far in a string of capital increases by Italian lenders this year.

Reporting by Valentina Za

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