Greece's Alpha Bank prices share offer at 0.65 euros

ATHENS, March 25 Tue Mar 25, 2014 12:57pm EDT

ATHENS, March 25 (Reuters) - Greek lender Alpha Bank said on Tuesday it has priced its 1.2 billion-euro equity offering, at 0.65 euros per share.

The bank had announced the capital increase earlier this month to strengthen its balance sheet and buy back preference shares owned by the country's government. A stress test of Greek lenders unveiled by the Bank of Greece this month found Alpha needs to plug a 262 million-euro capital shortfall.

In addition the Greek government owns preference shares worth 940 million euros. (Reporting by George Georgiopoulos; Writing by Karolina Tagaris; Editing by Greg Mahlich)