Veneto Banca MIL IPO

Value:

€ 1 billion

Dollar value:

$ 1.099 billion

Status:

Completed

Date:

24/6/2016

Overview:

Veneto Banca has undertaken a €1 billion IPO on the Borsa Italiana (MIL).
The share issue is part of a recapitalisation plan for the bank.
Interest in the shares on launch was underwhelming and this led to the Italian banking bailout fund Atlante stepping in to subscribe to all remaining shares, taking control of the bank.
Banca IMI, Citi, Credit Suisse, Societe Generale and UBS acted co-global coordinators.
Barclays, Commerzbank, Natixis, Nomura and UniCredit acted as bookrunners.

Sam Duke - Editor

Jurisdiction:

Italy

Deal type:

IPO

Practice area:

Capital markets : Equity

Governing law:

Italy

Industry sector:

Banking

Firms:

Chiomenti

Party: Veneto Banca (Issuer)

Lawyer: Manfredi Vianini Tolomei

Lombardi Segni & Associati

Party: Banca IMI (Coordinator)

Party: Citigroup (Coordinator)

Party: Credit Suisse (Coordinator)

Party: Societe Generale Bank & Trust (Coordinator)

Party: UBS (Coordinator)

Party: Barclays (Bookrunner)

Party: Commerzbank AG (Bookrunner)

Party: Natixis (Bookrunner)

Party: Nomura (Bookrunner)

Party: Unicredit (Bookrunner)

Shearman & Sterling