Goldman Sachs, Mediobanca and Unicredit will parry the Juventus capital increase
Goldman Sachs, Jp Morgan, Mediobanca and Unicredit have undertaken to subscribe any new Juventus shares that may be unsold as part of the capital increase for a maximum value of 144.9 million euros. Facts, numbers and insights
The Juventus board of directors has given the green light to the final terms of the 400 million euro capital increase. The new disbursement was necessary to support the shortages due to the losses of the pandemic and to support the future investments of the Piedmontese team.
Thud of the Juventus title
The response of the bags was not comforting. Since the beginning of the session, the stock has opened with a decrease of 11% , to then settle at € 0.62 with a -9.48% , after having reached a minimum of € 0.6075 for the session, levels that do not exist. they saw from mid-March 2020, in full pandemic.
Trading volumes are growing
Market capitalization drops to around 830 million while trading volumes grow, passing around 6.75 million units.
Two recapitalisations in two years for Juventus
In 2019, a capital increase of 300 million euros was approved. At the moment there are 1,330,251,988 Juventus shares in circulation. 1,197,226,782 new ordinary shares will be issued with no nominal value expressed, having the same characteristics as Juventus ordinary shares. The offer for current shareholders is advantageous: for every 9 new shares purchased, they will receive 10 at the subscription price of € 0.334 per share. The issue price of the new securities is to be attributed to the share capital for € 0.01 and € 0.324 to the share premium. Within the subscription price of the new shares, a discount of about 35.32% is already incorporated with respect to the theoretical price ex right (Terp) based on yesterday's closing price.
Option right exercisable until December 16 in the Juventus capital increase
Investors will be able to exercise their option rights from 29 November to 16 December and tradable from 29 November to 10 December, on the Euronext Milan market, managed by Borsa Italiana. The company chaired by Andrea Agnelli specified that "the launch of the option offer, its conditions and the schedule indicated above, are subject to the issue by Consob of the provision authorizing the publication of the registration document, of the information note on financial instruments and the summary ". The prospectus will be made available at the company headquarters.
Exor pays 255 million euros
The majority shareholder of the Bianconeri is Exor, a Dutch financial holding owned by the Agnelli family. Exor holds 63.8% of the club's share capital in its hands , the remaining share capital is held by the Irish company Lindsell Train Investment Trust Ltd. (10%) and by general shareholders (26.2%). The Dutch holding has announced that it has undertaken to subscribe the portion of the capital increase corresponding to approximately 255 million. Moreover, on 27 August he made a payment in favor of the bianconeri worth 75 million euros.
Goldman Sachs, JP Morgan, Mediobanca and Unicredit guarantee the Juventus capital increase
Furthermore, at the end of the board meeting, the company signed a guarantee agreement on the capital increase with Goldman Sachs , Jp Morgan , Mediobanca and Unicredit . The financial institutions will act as joint global coordinators and joint bookrunners and have undertaken to underwrite, separately and without a solidarity bond, any new shares that may remain unsold at the end of the auction of unexercised rights, for a maximum value of 144 , 9 million euros. The unexercised auction will take place after the option period.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/goldman-sachs-mediobanca-e-unicredit-pareranno-laumento-di-capitale-della-juventus/ on Tue, 23 Nov 2021 13:57:24 +0000.