The Juventus of Turin completed this Monday on the Milan Stock Exchange the sale of 8.25% of the shares not exercised in the first subscription period, for which it closed the capital increase of 399 million euros approved on October 29 by its shareholders.
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The club reported that “all of the 109,700,640 option rights not exercised during the subscription period -which give the right to subscribe 98,730,576 newly issued ordinary shares, corresponding to 8.25% of the total issued Shares in relation to the capital increase agreed by the Shareholders at the Extraordinary General Shareholders’ Meeting held on October 29, 2021 – they have been sold at the first trading session of Euronext Milan, the exchange organized and managed by Borsa Italiana SpA, held today “.
You will not need the support of banks
Thus, Juve will not need the support of the banks “Goldman Sachs Internationa”, “JP Morgan AG”, Mediobanca Banca di Credito Finanziario SpA “and” UniCredit Corporate & Investment Banking “, which had signed an underwriting contract to sign and release the new shares that had not been subscribed at the end of the auction of the rights not exercised.
With this capital increase, the Juventus wants to face the deep economic crisis in which it also sank due to the drastic reduction in income caused by the coronavirus pandemic.
In December 2019, the Juventus closed another capital increase of 292.5 million euros within the scope of an economic plan for the 2019-2024 five-year period that should allow the club to continue growing at a sporting level and in strengthening its brand.
To this expansion was added another closed in February 2019 for a total of 175 million euros.