Koru says to launch offer for 3.35% Unipol stake via reverse ABB (updated)
29/06/2021 17:57
(Adds details)
MILAN, June 29 (Reuters) - Investment vehicle Koru said on
Tuesday it plans to buy 24 million ordinary shares, or a 3.35%
stake, in Italy's financial group Unipol UNPI.MI through a
reverse accelerated bookbuilding procedure.
Koru will offer a premium of up to 6.6% on Unipol's closing
price on Tuesday, it said, adding the offering would be launched
"immediately".
Milan-listed shares in Unipol closed up 1.1% at 4.315 euros.
"The transaction represents a medium-long term financial
investment in Unipol" based on the company's performance and
forecasts given as part of its 2019-2021 business plan, Koru
said.
The vehicle said it reserved the right to accept offers for
an aggregate number of shares lower than 24 million.
Koru - which is owned by Coop Alleanza 3.0, Cefla, Cooperare
S.p.A., Nova Coop, Aurum S.p.A. and Copura – hired Equita SIM as
sole bookrunner for the deal, it added.
Unipol declined to comment.
(Reporting by Giulio Piovaccari; editing by Agnieszka Flak)
((giulio.piovaccari@thomsonreuters.com))