December 18, 2017 / 8:26 AM / a year ago

All of Carige's unexercised cash call rights sold by second day

MILAN, Dec 18 (Reuters) - All the subscription rights in Italian lender Banca Carige’s capital increase, which were left unexercised by shareholders, were sold by Monday, Reuters data showed.

Carige’s shareholders took up 66 percent of a 500 million euro share issue demanded by regulators but the lender has accords in place with a number of investment firms to reach the minimum recapitalisation level imposed by the European Central Bank.

Investors had pledged to step in to buy any rights in a five-day market offering which started on Friday.

Reuters data showed that on Monday, the second day of the offer, all of the 278.4 million rights had been bought. On Friday just over half of them had been sold. (Reporting by Gianluca Semeraro, writing by Giulia Segreti)

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