Commerzbank sets terms for 2.5 bln eur capital hike
FRANKFURT May 14 (Reuters) - Commerzbank is offering shares at a deep discount in a 2.5 billion euro ($3.3 billion) capital increase aimed at repaying funds it owes to the German government and insurer Allianz.
Germany's second biggest lender said on Tuesday it was offering 555.6 million new shares at a subscription price of 4.50 euros per share, a discount of 55 percent on Monday's closing price of 9.94 euros.
Current shareholders will be entitled to receive 20 new shares for every 21 shares they now hold.
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