November 3, 2015 / 4:26 PM / 2 years ago

Greece's Eurobank plans share offering of up to 2.1 billion euros to boost capital

ATHENS (Reuters) - Greece’s third largest lender Eurobank will hold an extraordinary shareholders meeting on Nov. 16, seeking approval for a share offering of up to 2.12 billion euro to boost its capital, the bank said on Tuesday.

The ECB’s health check showed that Eurobank has a capital shortfall of 2.12 billion euros under the adverse scenario of the stress test, the lowest among the country’s four lenders.

The new shares will be offered to institutional and other investors via a private placement through a book-building process which is expected to start next week, it said in a statement.

Reporting by Lefteris Papadimas, Writing by Angeliki Koutantou

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