INTESA SANPAOLO SELLS 4% EQUITY STAKE IN PRADA
Torino, Milano, 24 June 2011 – Today Intesa Sanpaolo sold 102,246,610 Prada shares, representing about 4% of the latter’s capital. The sale was priced at HK$ 39.5 per share for a total amount of around 360 million euro and was made in the context of Prada’s initial public offering on the Hong Kong stock exchange. The Bank now retains 25,588,240 shares, constituting 1% of Prada’s capital.
As a result, the Intesa Sanpaolo Group will record a positive contribution of around 255 million euro to its net income and of about 8 basis points to its Core Tier 1 ratio in the second quarter of 2011.
Last updated 24 June 2011 at 07:38