Previous close | 5.60 |
Open | 5.60 |
Bid | 5.81 x 0 |
Ask | 0.00 x 0 |
Day's range | 5.60 - 5.60 |
52-week range | 3.68 - 5.60 |
Volume | |
Avg. volume | 0 |
Market cap | 3.047B |
Beta (5Y monthly) | 1.37 |
PE ratio (TTM) | 10.18 |
EPS (TTM) | 0.55 |
Earnings date | 07 May 2024 |
Forward dividend & yield | 0.28 (5.00%) |
Ex-dividend date | 20 May 2024 |
1y target est | N/A |
MILAN (Reuters) -Italian financial group Unipol Gruppo, owner of the country's second-largest insurer, has more than doubled its stake in small lender Popolare di Sondrio (BPSO), in a move that could potentially drive consolidation in the sector. Unipol spent 235.6 million euros ($248 million) to buy 10.2% of Lombardy-based BPSO at a 4% premium versus Wednesday's closing price, or a 10.5% premium over the last month's average. Trading at 0.6 times its estimated tangible equity in 2024-2025, BPSO is some 15% more expensive than its closer peers, said Equita, which handled the purchase with Mediobanca.
Italian financial group Unipol has started the process to buy another 10.2% of Popolare di Sondrio, it said on Wednesday, tightening its grip on the regional lender. Unipol said it had hired Equita SIM and Mediobanca to launch a reverse accelerated bookbuilding process and buy Popolare di Sondrio shares at a price no higher than 5.1 euros each. Shares in Popolare di Sondrio ended the session at 4.902 euros, meaning Unipol is offering a 4% premium to that closing price.