c.€400m juventus rights issue - mediobanca acted as joint global coordinator and joint bookrunner

On 30^th June 2021 Juventus BoD announced a Rights Issue of up to €400m, approved on 25^th October by the EGM. The Rights Issue is aimed at strengthening the balance sheet of the company following the Covid-19 crisis and securing the achievement of the goals of the Strategic Plan.

On 22nd November 2021 Juventus BoD fixed the final terms and conditions for the Rights Issue:

• c.1,197m new shares with an issue price of €0.334 each to be offered, on a pre-emptive right basis, to existing shareholders at a ratio of 9 new shares for every 10 rights held
• discount to TERP equal to 35.32%

The offering period started on 29^th November and lasted until 16^th December, while the rights trading period started on 29^th November, and lasted until 10^th December.  At the end of the offering period the take-up rate reached c.91.75%. All the unsubscribed rights were sold during the first day of auction and after that the rights issue was completed with a final take-up of c.98.45%.

The unsubscribed portion of the capital increase has been bought by the Banks’ Syndicate and sold on the market the day after, by Mediobanca on behalf of the consortium.

Juventus main shareholder, Exor NV, which owns 63.8% of the company, took an irrevocable commitment to subscribe its portion of the capital increase.

The capital increase was fully underwritten by the Banks’ Syndicate, which included, in addition to Mediobanca, Goldman Sachs, J.P. Morgan and Unicredit.

Mediobanca acted as Joint Global Coordinator and Joint Bookrunner and played a central role throughout the whole process, confirming its solid ECM track record and its strong relationship with Juventus.