Piraeus Bank launches book-building process

4 November 2015
23 Views

Piraeus Bank on Wednesday announced a board decision to call for an extraordinary general shareholders’ meeting on November 15 to approve a share capital increase plan worth 4.9 billion euros.

The shareholders’ meeting will be asked to approve a share capital increase plan through issuing new common nominal shares without existing shareholders’ rights, to be covered fully in cash by private investors, a liability management exercise –currently underway- and the issuing of new common nominal shares and a convertible bond issue for the Hellenic Financial Stability Fund, along with a reverse split at a ratio of one new for 100 existing shares.

The board seeks to drain up to 4.933 billion euros from the market and to cover its capital needs from the AQR and the stress test under the base scenario. The bank has the option to raise the capital increase plan depending on the interest of investors, while the minimum per share price will be 0.30 euros.

The capital boosting scheme will begin with a book building process to institutional and other selected investors.

Deutsche Bank London branch and UBS Ltd will act as joint process banks and joint global coordinators and joint bookrunners, while Credit Suisse Securities (Europe) Ltd will act as joint global coordinator and joint bookrunner, while Euroxx Securities and Mediobanca-Banca de Credito Finanziario SpA will act as joint bookrunners.

You may be interested

23 christians killed in Egypt!
SLIDE
shares82 views
SLIDE
shares82 views

23 christians killed in Egypt!

makis - May 26, 2017

Gunmen opened fire on two buses and a truck carrying Coptic Christians in Minya, Egypt on Friday, killing at least…

Students slightly injured after school bus capsizes in Serres, northern Greece
GREECE
shares67 views
GREECE
shares67 views

Students slightly injured after school bus capsizes in Serres, northern Greece

makis - May 26, 2017

One child suffered a fracture when a school bus from the Vamvakofyta primary school was run off the road by…

Papademos -bleeding- carried into the ambulance! (video)
GREECE
shares102 views
GREECE
shares102 views

Papademos -bleeding- carried into the ambulance! (video)

makis - May 26, 2017

A shocking video from the moments after the bomb attack against the former Prime Minister of Greece Lucas Papademos in…

Leave a Comment

Your email address will not be published.