Piraeus Bank has completed its €807 million rights issue, The Wall Street Journal reports. The Greek lender’s capital raising was over-subscribed and attracted bids worth over €1 billion.
The Athens-based bank offered shareholders 807 million new shares that were sold at a discount to attract international investors. The rights issue is likely to increase Piraeus Bank’s equity tier one ratio to 9.5%, while raising its total tier one ratio to 10.8%.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Reuters.