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Monte dei Paschi di Siena currently boasts a quote of 20.07 euros per share with an increase of 7.03%, and these numbers have made the title one of the most purchased at the opening of the markets. MPS exits a week of relative volatility caused by the onerous work related to the capital increase of 5 billion imposed by the European Central Bank that needs to be implemented by the end of the year.

It is obviously a complicated and lengthy process, and this is demonstrated by the fact that the syndicate led by JP Morgan and Mediobanca itself has already exercised the right provided by the contract to back out of the negotiations, judging any attachment of unsold securities too risky. To find a solution, the board of directors of the Siena credit institution met Sunday afternoon in Milan, where they proposed an adjustment of the original plan that would involve converting subordinated securities into shares.

Many prestigious institutional investors participated, bringing together more than a billion in capital. In order to maximise this move, Monte dei Paschi di Siena decided to reopen the conversion of the subordinated bonds into shares, in order to also include retail customers. This is a huge task that can involve many protagonists of Italian finance and of the entire international panorama, and that will undoubtedly have many consequences all over Europe. To invest in JP Morgan, Unicredit and many other financial partners, visit the official IQ Option website.


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