Friday March 18 2016
News Source: Global Disclosures
Focus: Short Selling
Type: General
Country: Italy
The Italian watchdog, CONSOB has imposed a temporary short selling ban on Banco Popolare shares, for the entire trading session of Friday 18 March 2016 (instrument ISIN: IT0005002883) on the MTA market of Borsa Italiana.
The ban has been adopted pursuant to Article 23 of the EU Regulation on “Short Selling”, in response to a price drop in the share price exceeding the 10% threshold during the trading day of Thursday 17 March 2016.
The prohibition applies to short sales backed by stock lending.
This extends the existing ban in place regarding naked short selling for all equities, imposed from 01 November 2012 under the above mentioned EU Regulation.
For the CONSOB announcement, please see the link at the top of the page.
A ban was previously imposed on the same instrument on 21 January 2016. For more information on that announcement, please see our previous article: