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Sovereign Wealth Funds Briefing - Categorized | Investment

UniCredit gaining investor support for $9.6 bln rights issue

Posted on 18 January 2012

Aabar Investments, an investment vehicle for Abu Dhabi’s sovereign wealth fund, said on Tuesday that it would increase its stake in the Italian bank UniCredit to 6.5 percent from 5 percent after the Milan-based firm completes a so-called rights offering at the end of the month. The deal would make Aabar the largest individual investor in UniCredit.
The announcement comes as UniCredit is expected to gain investor backing to raise 7.5 billion euros, or $9.6 billion, in a rights issue, which allows shareholders to buy new stock in a company at a discount, according to people with knowledge of the matter………………………………………..Full Article: Source


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