Banco Popolare Offers $1.1 Billion Stock at 29% Discount

Updated on
  • Banco sells stock at 2.14 euros each, offers 9 shares every 7
  • Rights rights issue part of merger deal with BPM Bank

Banco Popolare SC will sell stock at about third less than Thursday’s closing price in a planned 1 billion-euro ($1.12 billion) rights offering ahead of its merger with Banca Popolare di Milano Scarl.

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