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Monte Paschi CEO sees "very high" take up of capital increase
June 27, 2014 / 11:02 AM / 3 years ago

Monte Paschi CEO sees "very high" take up of capital increase

PISTOIA, Italy, June 27 (Reuters) - The chief executive of Monte dei Paschi di Siena said he expected a strong take up of the bank’s 5 billion euro ($6.79 billion) rights issue, which concludes later on Friday.

Monte Paschi CEO Fabrizio Viola told reporters that the exact level of subscription to the offer would not be clear until the evening but added that he expected it would be “very high”.

The bailed-out Italian bank launched the highly dilutive share sale on June 9, seeking to repay state aid and bolster its finances in preparation for a pan-European review of banks. ($1 = 0.7359 Euros) (Reporting by Silvia Ognibene)

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