Monte Paschi shares halted after cash call pricing

May 22, 2015 7:10 AM

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MILAN May 22 Shares in Monte dei Paschi di Siena were suspended from trading on Friday after a 5 percent drop following the pricing of a 3-billion euro ($3.4 billion) cash call at a steep discount.

Italy's third-largest bank announced late on Thursday it would price new shares at 1.17 euros each, or a 38.9 percent discount to the price of the stock when excluding subscription rights.

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