ERG has raised gross proceeds of €1.11bn ($1.37bn) by issuing 6.012 million ordinary shares priced at €18.6 ($22.87) a share in a private placement.
Italian institutional investors have subscribed to the placement.
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The shares issued under the private placement, equivalent to approximately 4% of ERG’s share capital, were held by UniCredit.
ERG is not entitled to receive any proceeds from the placement.
UniCredit has engaged Citigroup, Morgan Stanley and UniCredit Corporate & Investment Banking as joint bookrunners for the transaction.
Both the companies involved in the transaction are based in Italy.
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