IMMSI plans 79 mln euro cap hike, part for Piaggio

Newswire

MILAN, Oct 27 (Reuters) - Italian holding company IMMSI has approved a 79.2 million euro ($101.3 million) capital increase, in part to help its scooter maker Piaggio buy rival Aprilia. The capital hike, due next month, will see three new shares issued for every 10 existing shares at a price of 1.2 euros each, well below their current market price of 1.52 euros. In a statement issued on Wednesday, the board said that IMMSI would contribute 20-30 million euros to a 50-million euro capital ...

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