Unipol launches EUR 2.5 billion raise: Unipol stock sits 23.05 percent above offer price

Published on 10/13/2026 at 10:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

New shares cost EUR 20.56 each under the offer. Unipol stock costs EUR 25.30 on October 13, 2026, 23.05 percent above the offer.

Unipol launched a capital increase of up to EUR 2.5 billion on October 13, 2026.
New shares are offered at EUR 20.56 each in a 10-for-59 rights issue.
Unipol stock was EUR 25.30 at Lang & Schwarz, while the offer price implies a 23.05 percent discount to the market price.
The rights can be traded until October 20, 2026 and exercised until October 26, 2026.

Börsenhändler vor großen Kursbildschirmen im Handelssaal in Mailand — Börsenparkett in Mailand veranschaulicht den Aktienhandel mit Unipol Gruppo S.p.A. IT0004810054 im FTSE MIB, Illustration mit AI erstellt.

Unipol (ISIN IT0004810054) launched a capital increase of up to EUR 2.5 billion on October 13, 2026, with new shares priced at EUR 20.56. At Lang & Schwarz, Unipol stock was trading at EUR 25.30 at 10:37 a.m. CEST, 23.05 percent above the subscription price. MarketScreener reported that the transaction is intended to finance the transfer of MPS branches linked to the wider Intesa Sanpaolo restructuring.

EUR 2.5 billion for MPS branches

The transaction covers a maximum of 121.58 million new shares, offered at a ratio of 10 new shares for every 59 already held. The offer price is EUR 20.56 per share, and the rights are tradable until October 20, 2026 and exercisable until October 26, 2026, according to Teleborsa.

The rights issue is tied to Unipol's plan to acquire part of the Monte dei Paschi di Siena network from Intesa Sanpaolo if the takeover proceeds. The planned transfer includes 635 branches, while the capital increase provides a clearly quantified funding pool for the transaction.

What does the offer mean for dilution?

Shareholders who do not participate face dilution of 14.49 percent, according to MarketScreener. That figure makes the rights timetable central to the stock story: the market price stood EUR 4.74 above the subscription price at the Lang & Schwarz timestamp, while the offer gives existing holders a route to protect their percentage ownership.

Three dated steps in the plan

On October 8, 2026, the board set the EUR 2.5 billion maximum and the EUR 20.56 subscription price, as Teleborsa reported. On October 12, 2026, Unipol received regulatory approval to raise its holding in BPER beyond 20 percent, with the planned EUR 2.5 billion increase also linked to the banking strategy, according to Yahoo Finance. On October 13, 2026, the rights issue was reported as launched, with 445 of the 635 branches already identified for transfer, according to MarketScreener.

Rights timetable sets the next dates

The rights trading window runs through October 20, 2026, and the subscription period closes on October 26, 2026. The market price and the EUR 20.56 offer price will therefore remain the two immediate reference points for assessing the value of the rights during the transaction.

Unipol stock at Lang & Schwarz

Unipol stock was trading at EUR 25.30 at Lang & Schwarz on October 13, 2026 at 10:37 a.m. CEST. The quote stood EUR 4.74, or 23.05 percent, above the EUR 20.56 subscription price. The further course of trading is shown by the continuously updated real-time quote of Unipol stock.