Monte dei Paschi's 2.5 billion euro share sale 96.3% subscribed

MILAN (Reuters) - An up to 2.5 billion euro ($2.4 billion) capital increase at Monte dei Paschi di Siena has been 96.3% subscribed, the state-owned Italian bank said on Thursday.

Shareholders had taken up 74% of the capital raise, reflecting mainly the investment by Italian taxpayers based on the state's 64% stake in the bank.

However, MPS and the Treasury have managed to put together a safety net comprising the bank's commercial partners, junior bondholders and a number of Italian not-for-profit banking foundations to ensure the deal's success.

Underwriters will be left holding only 93 million euros, Monte dei Paschi said.

($1 = 1.0265 euro)

(Reporting by Valentina Za; editing by Jonathan Oatis)