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Unicredit (UNCFF.PK) shares may have gotten slammed on the bank's capital raise today (off 14.5%...

Unicredit (UNCFF.PK) shares may have gotten slammed on the bank's capital raise today (off 14.5% in Milan), but the bank did raise the necessary funds, "no mean feat" given the debt crisis, writes George Hay. On the hook now are the underwriters who will find themselves holding €7B worth of shares if the stock falls below the €1.94 subscription price before the end of January.
Comments (1)
  • Stone Fox Capital
    , contributor
    Comments (5768) | Send Message
     
    while bad for Unicredit shareholders, this is huge for the markets. $10B was just added to a weak bank significantly strengthening the industry.

     

    It might also usher in the concept that short term pain will lead to long term gains.
    4 Jan 2012, 12:15 PM Reply Like
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