Fincantieri has set the price of the capital increase at 2.62 euros per share.

This is according to the company in a note in which it adds that the subscription price incorporates a 32.2 percent discount to the Terp of Fincantieri shares based on yesterday's closing. Fincantieri will issue 152,419,410 new shares to be offered under option to shareholders in the ratio of 9 new shares for every 10 held.

A few days ago, the company regrouped its shares on a ratio of 1 new ordinary share for every 10 existing ordinary shares, preparatory to the capital increase.

Fincantieri has signed a contract with banks -- Bnp Paribas, Intesa Sanpaolo, Jefferies, Jp Morgan and Mediobanca -- to guarantee the unopted shares.

The rights issue will be for a maximum of 400 million euros, plus up to another 100 million linked to warrants matched free of charge to the new shares. The exercise price of the warrants was set at 4.44 euros per share, a 14.9 percent premium over Terp.

The capital increase will start on June 24 and end on July 11.

Full press release

(Sara Rossi, editing Claudia Cristoferi)