The stock of Unicredit headed by Alessandro Profumo is listed on the Italian stock exchange. The bank’s market capitalization amounts to EUR 71bn and is bigger than the joint capitalization of banks listed on the WSE.
“The listing will take place without any issue. It will be dual listing. Unicredit’s appearance in Warsaw is part of the group’s plans to be present on the Polish market, it’s so to say effect of the merger of Pekao and Bank BPH”, Ludwik Sobolewski, WSE CEO said in an interview for PiN radio.
The stock of Unicredit is very attractive and should lure Polish institutional investors, especially pension funds. As far as indices are concerned, Unicredit is much cheaper than its Polish peers. Its P/E index amounts to 11.2 compared with 23.8 for Polish banks. Besides, it is much more generous to its shareholders as far as the dividend is concerned. Only Millennium has a better offer in Poland.
Yesterday, Unicredit’s stock shed 1.5 percent on Borsa Italiana to EUR 5.34. This is just 4 percent above this year’s low as of November 9th and 30 percent below this year’s high as of April 26th.
(PLN 1 = EUR 0.271)