FMW-Redaktion
Die Banca Popolare di Vicenza, mit 41 Milliarden Euro Einlagen und 1,4 Millionen Kunden nach eigenen Angaben die nach Einlagen zehntgrößte Bank Italiens, befindet sich jetzt zu 92,3% im Eigentum des italienischen Bankenrettungsfonds „Atlante“, der insgesamt 5 Milliarden Euro eingesammelt hatte um Italiens Berg an faulen Krediten und kaputten Banken zu sanieren. Warum hat Atlante gerade 92,3% gekauft (für 1,39 Milliarde Euro)? Warum nicht 100% oder 50%? Die Bank hatte letzte Woche versucht Käufer für ihre Aktienemission zu finden. Nur für 7,7% der Aktien fand man Abnehmer. Daher hat Atlante den Rest gekauft.
Daran sieht man: Wenn bei einem Aktienangebot nur 7,7% des Volumens von Käufern abgenommen wird, ist das de facto die Höchststrafe für die Bank. Cash schwirrt nun wirklich genug herum am europäischen Kapitalmarkt – nur scheint niemand so lebensmüde zu sein in italienische Banken einsteigen zu wollen, nicht einmal die Italiener selbst. Auch bringt dieser Kauf eine interessante Folgefrage mit sich. Wenn der 5 Milliarden Euro schwere Rettungsfonds für diese zehntgrößte Bank Italiens 1,39 Milliarden Euro ausgibt, verbleiben noch 3,61 Milliarden Euro um alle anderen kaputten Banken in Italien zu retten, und noch um nebenbei faule Kreditpakete aus den Banken rauszukaufen. Wie wir schon bei der Einrichtung des Atlante-Fonds schrieben: Wer kann auch nur eine Sekunde glauben, dass lumpige 5 Milliarden Euro ausreichen? Ach ja, und statt 5 hat der Fonds bisher nur 4,25 Milliarden Euro eingesammelt….
Die Bank zu der Transaktion im Originaltext:
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Banca Popolare di Vicenza S.p.A. announces that the Global Offering of
the Bank’s ordinary shares was completed at 01:00 p.m. on April 29, 2016. Upon the occurrence of the Board meeting held on 29 April 2016, the Offer Price has been set at Euro 0.10 per Share, i.e., the lower amount of the Indicative Valuation Range identified by the Board of Directors in agreement with the Joint Global Coordinators (as defined hereinafter), in the meeting held on April 19, 2016, as indicated in the Prospectus. As part of the Global Offering, 6,683 investors submitted subscription requests for a total amount of Euro 114,948,562, accounting for 7.66% of the Global Offering. In particular, as part of the Italian Public Offering, 6,673 investors submitted subscription requests
for a total amount of Euro 38,463,562, of which:
− Euro 33,075,298 under the Shareholders Offering, accounting for 2.21% of the Global
Offering, 8.82% of the minimum amount of the Public Offering and 11.03% of the
Shareholders Offering tranche;
− Euro 5,388,264 under the Italian Retail Offering, accounting for 0.36% of the Global Offering,
1.44% of the minimum amount of the Public Offering and 7.18% of the Italian Retail Offering
tranche.
As part of the Institutional Offering 10 Institutional Investors submitted subscription requests for a
total amount of Euro 76,485,000, accounting for 5.10% of the Global Offering and 6.80% of the
tranche reserved to Institutional Investors. The Underwriting Agreement with UniCredit has been executed as of today. Pursuant to the above Agreement and to the sub-underwriting agreement entered into on April 20, 2016 between UniCredit and Quaestio Capital Management SGR S.p.A. (”Quaestio”) – which is the
promoter of the closed-end alternative investment fund named “Atlante” (the “Atlante Fund”) – as
subsequently amended as indicated in the press release published by UniCredit on April 25, 2016,
the Atlante Fund will sub-underwrite all the unsubscribed Shares under the Global Offering, i.e.
13,850,514,380 Shares at the Offer Price of Euro 0.10 per share, for a total amount of Euro
1,385,051,438 (accounting for 92.34% of the Global Offering). The Global Offering is subject to the prior issuance by Borsa Italiana of the authorization for the commencement of trading of the Bank’s shares, upon verification that the free float of the Bank after the Global Offering is adequate.
Should the above authorization be issued by Borsa Italiana, trading is expected to commence on
May 4, 2016. In this event the Atlante Fund would hold a shareholding of 91.72% in the share capital
of the Bank. The final results of the Public Offering and the summary results of the Global Offering will be disclosed through a specific notice to be published within five working days from the end of the
offering on a national daily newspaper and on the Bank’s website. Whereas, should Borsa Italiana not issue the above authorization, the subscription requests submitted under the Global Offering will lapse and – also in the light of the extension of the subunderwriting agreement between UniCredit and Quaestio and the corresponding extension of UniCredit’s commitments towards the Bank, as announced by UniCredit on April 25, 2016 – the Atlante Fund will underwrite 15,000,000,000 Shares at the Offer Price of Euro 0.10 per share, amounting to Euro 1,500,000,000 (100% of the Global Offering). In this event the Atlante Fund would hold a shareholding of 99.33% in the share capital of the Bank.
Quelle: Banca Popolare di Vicenza S.p.A.
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