Unicredit divested 17% stake in FinecoBank €1.01bn.

UniCredit announces the successful completion of the accelerated bookbuild offering to institutional investors of approximately 103.5m existing ordinary shares in FinecoBank, equal to 17% of the Company's issued share capital, at a price of €9.80 per share. Gross proceeds of the Placement amount to approximately €1.014bn. The settlement of the Placement will take place on 10 May 2019. It said the sale was part of planned asset disposals designed to ensure the bank would meet a target of being at the upper end of a 200-250 basis points core capital buffer it wants to maintain over and above regulatory requirements.