MPS continues its sprint, gaining over 13% approximately an hour and a half after the start of trading (+13.20% to 6.240 euros per share). MPS made no price at the start and then took off on the stock market, following the Mef’s decision to place 15% of the capital held in the Sienese institution on the market, for a total value of around 1.1 billion. The share sold by the Mef was acquired by Banco Bpm (for 5%), which is now rising on Piazza Affari by 4.79%, by Anima (for 3%), by the Caltagirone group (for 3.5 %), and by Delfin of the holding company of the Del Vecchio heirs (for the remaining 3.5%).
The MEF offer was increased from the initial 7% to 15% of the shares due to the high demand received and “the presence of a 5% premium compared to the current market closing price”. Following this transaction, the state’s stake in MPS was reduced from 26.7% to 11.7% of the bank’s share capital.
MPS, founded in 1472 and considered the oldest bank in the world, has been controlled by the Italian state since 2017, when it approved its precautionary recapitalization, authorized by Brussels, to save it from bankruptcy. He has recently put part of the bank up for sale and since November 2023 has carried out three share placement operations on the market which have brought profits of around 2.7 billion euros. The progressive reduction of state participation in the bank responds to the commitment made with Brussels to divest a large part of state participation by the end of 2024.