Popular shareholders approve rights issue

MADRID Sat Nov 10, 2012 7:46am EST

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MADRID Nov 10 (Reuters) - Shareholders of Spain's Banco Popular approved a 2.5-billion-euro ($3.2 billion) rights issue on Saturday, averting the need for the bank to seek European aid.

Popular is offering the new shares at 0.401 euros per share, representing a 64 percent discount to Friday's closing share price of 1.118 euros. (Reporting By Tomas Cobos; Writing by Tracy Rucinski; Editing by Toby Chopra)

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