Nov
24
Paschi Investors Approve $5.3 Billion Capital Raising Plan
By-
96% of shareholders attending meeting backed capital increase
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Bank plans to start debt-swap on Monday, share sale Dec. 7-8
Banca Monte dei Paschi di Siena SpA shareholders backed the ailing Italian bank’s plan for a vital 5 billion-euro ($5.3 billion) capital increase at a meeting in Siena.
The capital plan was approved by 96 percent of investors attending the meeting, according to outgoing Chairman Massimo Tononi. The Italian Treasury with a 4 percent stake and Axa SA with a 3.2 holding were the biggest shareholders attending the meeting in Italy…
Paschi Investors Approve $5.3 Billion Capital Raising Plan
