BSI RAISING 50 MLN SWISS FRANCS VIA RIGHTS ISSUE
Banca della Svizzera Italiana <BISZ.Z>
said it planned a one-for-12 rights issue at 300 pct of nominal
value to raise about 50 mln francs new capital.
    The rights issue would have a theoretical value to
shareholders of 140 Swiss francs per bearer share and 45 per
registered share.
    BSI was also seeking shareholder authorization for 200,000
new participation certificates of a nominal value of 100 francs
without rights for shareholders, to back future convertible or
warrant bonds or for other purposes. Existing 500-franc "B"
tranche certificates would be split five-for-one.
    The split would improve the marketability of the existing
certificates, chief executive Giorgio Ghiringhelli told a news
conference.
    The new bearer shares would be priced at 1,500 francs,
compared with a closing price last Friday of 3,325 on the
Zurich Stock Exchange, while the registered shares would be
issued at 300 francs against a market price of 900.
 REUTER
