(Alliance News) - Franchetti Spa on Wednesday announced that it has concluded the company's paid, divisible capital increase for a maximum amount of EUR6 million, including share premium, through the issuance of up to 1 million new ordinary shares, with no indication of par value and having the same characteristics as those already outstanding.

The capital increase has been offered for subscription at a price of EUR5.90 per new share, of which EUR0.05 is to be charged to share capital and EUR5.85 is to be charged to share premium.

The one million new ordinary shares amounted to 12.70 percent of Franchetti's new share capital.

The new ordinary shares were underwritten by Axon Partners Group

and Algebris Investments Limited.

On Wednesday, Franchetti closed flat at EUR7.20 per share.

By Claudia Cavaliere, Alliance News reporter

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