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    ANIM   IT0004998065

ANIMA HOLDING S.P.A.

(ANIM)
  Report
Delayed Borsa Italiana  -  11:35 2022-12-02 am EST
3.660 EUR   +1.61%
11/07Anima CEO does not see stronger MPS accord in short term
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11/07Italy's Anima Launches $30 Million Share Buyback Program
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11/07Anima S P A : Start of a buy back plan of Anima Holding S.p.A. ordinary shares for a maximum of Ç 30 million
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Monte dei Paschi shareholders meet to approve cash call

09/15/2022 | 05:38am EST
Italy's problem bank casts a long shadow over Draghi's summer break

SIENA, Italy (Reuters) - Shareholders in Monte dei Paschi di Siena (MPS) were meeting on Thursday to approve selling new shares for up to 2.5 billion euros ($2.5 billion), while doubts linger on whether the state-owned bank can pull off its latest cash call.

Five years after a bailout that handed the state a 64% stake, MPS needs more money to cut costs by shedding thousands of staff through costly early retirements, and to replenish its capital buffers.

Chief Executive Luigi Lovaglio is working to launch the new share issue in the middle of October, soon after national elections but before a new government is formed. It will be the seventh cash call in 14 years for MPS.

Stagflation fears roiling financial markets complicate Lovaglio's task, with MPS unable to offer a sufficient discount on its new shares after it lost 60% of its market value this year.

Lovaglio, a respected former UniCredit executive whom the Treasury recruited in February after failing to sell MPS to UniCredit, has secured a pre-underwriting accord with a group of eight banks led by Bank of America, Citi, Credit Suisse and Mediobanca.

The underwriters have the right to walk away if feedback from investors is negative. A person close to the consortium said the banks would assess the market situation after investor meetings Lovaglio is due to hold in London next week.

MPS' commercial partners, asset manager Anima Holding and insurer AXA, are open to discussing providing capital to the Tuscan bank in exchange for a strengthening of their commercial agreements, people familiar with the matter have said.

Anima could be willing to contribute up to 250 million euros, one of the people said. News of Anima's support have lifted MPS shares this week and its subordinated bonds, which had been hit by fears of conversion into equity.

Lovaglio has refrained so far from tabling discussions with either Anima or AXA because stronger commercial ties would make it harder for MPS to seek a merger partner in the future to allow Rome to cut its stake.

After the collapse of the UniCredit talks, the Treasury has secured from the European Union a years-long extension of an end-2021 deadline to re-privatise MPS.

($1 = 1.0026 euros)

(Reporting by Silvia Ognibene in Siena and Valentina Za in Milan; Editing by Keith Weir)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ANIMA HOLDING S.A. 1.13% 4.48 Delayed Quote.-46.55%
ANIMA HOLDING S.P.A. 1.61% 3.66 Delayed Quote.-18.49%
AXA 0.05% 27.39 Real-time Quote.4.60%
BANCA MONTE DEI PASCHI DI SIENA S.P.A. -0.02% 1.8892 Delayed Quote.-89.84%
BANK OF AMERICA CORPORATION -1.29% 36.08 Delayed Quote.-18.90%
CREDIT SUISSE GROUP AG 9.30% 2.95 Delayed Quote.-64.87%
MEDIOBANCA S.P.A. 0.24% 9.186 Delayed Quote.-9.14%
UNICREDIT S.P.A. -0.11% 12.536 Delayed Quote.-7.44%
All news about ANIMA HOLDING S.P.A.
11/07Anima CEO does not see stronger MPS accord in short term
RE
11/07Italy's Anima Launches $30 Million Share Buyback Program
MT
11/07Anima S P A : Start of a buy back plan of Anima Holding S.p.A. ordinary shares for a maxim..
PU
11/07Anima Holding S.p.A. Reports Earnings Results for the Nine Months Ended September 30, 2..
CI
11/04Anima Holding : October 2022 net inflows
PU
11/01Anima S P A : Conclusion of the share buy-back plan
PU
10/28Monte Paschi underwriters seen left with less than $100 million of stock-sources
RE
10/13Italy's MPS to launch share sale after getting banks' backing
RE
10/13Italy's MPS to launch share sale after banks give blessing
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10/12Italy's MPS nears finish line on securing banks' support for stock sale
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Analyst Recommendations on ANIMA HOLDING S.P.A.
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Financials
Sales 2022 344 M 360 M 360 M
Net income 2022 120 M 126 M 126 M
Net Debt 2022 540 M 567 M 567 M
P/E ratio 2022 11,1x
Yield 2022 4,93%
Capitalization 1 205 M 1 263 M 1 263 M
EV / Sales 2022 5,08x
EV / Sales 2023 4,66x
Nbr of Employees 319
Free-Float 84,2%
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Number of Analysts 9
Last Close Price 3,66 €
Average target price 4,16 €
Spread / Average Target 13,5%
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Managers and Directors
Alessandro Melzi d'Eril Chief Executive Officer, Director & GM
Davide Sosio Group Chief Financial Officer & Director-HR
Livio Raimondi Chairman
Filippo di Naro Investments Director
Francesca Pasinelli Independent Director
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