Piraeus Bank’s shareholders approve share capital increase plan

14:11 28/3/2014 - Πηγή: Matrix24

A Piraeus Bank extraordinary general shareholders” meeting on Friday approved a board plan for a share capital increase scheme worth 1.75 billion euros in cash, through the issuance of new common nominal shares to be offered to new investors.

The meeting approved a plan to issue 1,029,411,764 new common shares at a price of 1.70 euros

per share. The share capital increase plan is made through a book-building offer abroad with the participation of institutional and other category investors and through a public offer in Greece.

Piraeus Bank on March 26 announced the successful completion of an international book building process. The public offer in Greece is expected to be made in the first 10 days of April, after approval by regulatory authorities. Following completion of the share capital increase plan, Piraeus Bank’s equity capital will total 9.9 billion euros with the EBA Core Tier 1 rate at 16.8 pct (pro-forma).

The capital boost plan will strengthen the bank’s capital base, facilitate access in international capital markets, fully repay existing preference shares of the Greek state (750 millon euros) and raising private investors” participation in its equity capital.

Credit Suisse Securities Ltd, Deutsche Bank AG London Branch and Goldman Sachs International will act as Joint Global Coordinators and Joint Bookrunners while Mediobanca-Banca di Credito Finanziario S.p.A. και UBS Limited as Joint Bookrunners of the share capital increase plan. BNP PARIBAS will act as Co-Lead Manager.

source: ΑΜΝΑ

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