Greece's Piraeus Bank to sell new shares at 1.70 euros apiece

ATHENS Wed May 29, 2013 10:35am EDT

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ATHENS May 29 (Reuters) - Greece's second-biggest lender Piraeus Bank said on Wednesday it would sell 4.96 billion new shares at a price of 1.70 euros ($2.19) apiece, as part of its recapitalisation plan.

The price is calculated after a 1-for-10 reverse stock split. Piraeus shares closed at 0.25 euros in Athens trading. ($1 = 0.7779 euros) (Reporting by Harry Papachristou)

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