Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Popolare Milano Sets 32% Discount on $694 Million Sale

Banca Popolare di Milano Scrl, Italy’s oldest cooperative bank, will sell new shares at almost one-third less than the April 29 closing price in a 500 million-euro ($694 million) offer to boost capital.

Popolare di Milano, one of 15 Italian lenders included in the European Central Bank’s review of euro-zone banks, will sell shares at 43 euro cents each and offer nine for every 25 held, the Milan-based lender said in a statement late yesterday. The offer price is 32 percent less than the theoretical value of the shares, excluding the rights, according to the statement.

Chief Executive Officer Giuseppe Castagna is seeking to improve governance and cutting costs in a five-year plan to increase profit. The company is boosting capital in response to a request from regulators to strengthen finances before the ECB will become the euro area’s banking supervisor later this year.

Popolare di Milano’s investors can exercise rights to buy stock from May 5 to May 23, while the rights can be traded from May 5 to May 16, it said yesterday.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.