Alpha Bank plans $1 bln share issue to tap into stimulus pro

Alpha Bank plans $1 bln share issue to tap into stimulus projects


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LONDON — Alpha Bank, one of Greece’s four largest lenders, plans to raise about 800 million euros ($975 million) in a sale of new shares to capitalize on lending opportunities at home as European Union recovery funds will flow in, it said on Monday.
The strategy update helped the bank’s shares rebound from a plunge of about 30% on Friday, rising 8.1% to 0.9764 euros in early Monday trade.
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Alpha Bank plans $1 bln share issue to tap into stimulus projects Back to video
The planned share sale will take place via a bookbuilding to international institutional investors and a public offering in Greece, targeting completion by mid-July, the bank said.

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