Home Business Saipem, the board of directors starts with the 2 billion capital increase. Peak title

Saipem, the board of directors starts with the 2 billion capital increase. Peak title

by admin
Saipem, the board of directors starts with the 2 billion capital increase.  Peak title

Saipem’s board of directors, in yesterday’s meeting, exercised the mandate to increase the share capital indivisibly by 2 billion euros, setting final terms and conditions. This was announced by the group in a note, Wednesday morning before the markets open. When the trades begin, the effect is immediate: theSaipem sharewhich at times is priceless, falls in double figures after the announcement of a 30% discount on the Terp, the theoretical ex-right price.

Saipem, margins in red. No other impact from the ongoing project review. The new plan in mid-March


The company explains that the shareholders Eni and Cdp Industria di have irrevocably committed to subscribe all the new shares due to them in proportion to the investments respectively held in Saipem, totaling approximately 44% of the Capital Increase. 14 international banks that have signed the guarantee contract are also on board the operation. In particular, Bnp Paribas, Citigroup, Deutsche Bank, HSBC, Intesa Sanpaolo and UniCredit (as joint global coordinators) and Abn Amro, Banca Akros – Banco Bpm Group, Banco Santander, Barclays, Bper, Goldman Sachs International, Société Générale and Stifel (as joint bookrunners) have undertaken to subscribe any unexercised shares up to a maximum of approximately € 1,119.5 million, or the difference between the total value of the increase and the subscription commitment of Eni and Cdp .

Saipem, company and former top management acquitted of the 2015-2016 profit alerts



Saipem details that the 2 billion increase is part of the broader context of the capital and financial strengthening maneuver approved by the board of directors last March, together with the 2022-2025 Strategic Plan. The purpose is to allow Saipem to reach a level of capitalization deemed adequate for the purpose of overcoming the situation of economic, equity and financial tension and to achieve the objectives set by the 2022-2025 Strategic Plan.

See also  Safilo, Chiara Ferragni and the eyewear collection together

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy