Italy raises 650 mln euros by selling 12.5% of Monte dei Paschi

Italy on Tuesday sold a 12.5% stake in bailed-out lender Monte dei Paschi di Siena (MPS) BMPS, raising 650 million euros ($704 million) and advancing plans to re-privatise the world's oldest bank after a failed first attempt in 2021.

The Treasury said it in statement it had placed the shares at 4.15% euros each, offering a 2.49% discount to Tuesday's closing price. ($1 = 0.9233 euros)