UniCredit announces re-issuing of shares for mid-January

The WSE has suspended trading of shares in UniCredit, according to a press release by the latter on Friday. The investment and corporate bank, which also issues leases, requested that the Stock Exchange issue the suspension, as it said it planned to merge stock. UniCredit earlier said that the WSE board had agreed on the suspension of trading in connection with the adoption by the Extraordinary General Meeting of the company on January 12, 2017. The merging will take place between January 16 and 23, according to UniCredit. During its execution, one new ordinary share will be issued in exchange for ten existing ordinary shares; and one preferred share for ten existing preferred shares. Registration is expected to take place on January 19, and on January 23, UniCredit’s ordinary shares will be replaced, the release also said.