ATHENS, March 7 Greek lender Alpha Bank
said on Friday it was planning to sell new shares
worth up to 1.2 billion euros ($1.66 billion) to plug capital
holes and buy back preference shares owned by the country's
The share issue has already been underwritten by Citigroup
and JP Morgan, which have been hired to act as
joint global coordinators and bookrunners.
"Alpha Bank will consider favourably any participation of
existing shareholders and warrant holders in the equity
offering", the bank said.
Alpha Bank must plug a 262 million euro capital gap, as
revealed by a stress test of Greek lenders unveiled by the Bank
of Greece on Thursday. The Greek government owns Alpha Bank
preference shares worth 940 million euros.
($1 = 0.7214 euros)
(Reporting by Lefteris Papadimas; writing by Harry