ATHENS, April 18 Greece's third largest lender
Eurobank, which is issuing new shares to help plug a
capital shortfall, said on Friday that the cash call will take
place from April 25 to 29.
The transaction offers further evidence that overseas
investors are warming to Greece's prospects of economic
recovery, after the country last week returned to international
bond markets for the first time since its sovereign default in
The country's bank rescue fund HFSF, which owns 95 percent
of Eurobank, this week picked a group led by Canada's Fairfax
as anchor investors in the bank's 2.86 billion euro
($3.95 billion) offering.
The group of investors, which also includes Capital Research
and Management, Wilbur Ross, Fidelity, Mackenzie and Brookfield,
committed to subscribe for 47 percent or 1.33 billion euros of
the offering at 0.30 euros a share.
Eurobank, with a market value of 2.19 billion euros, became
the latest major Greek lender to tap investors.
On Wednesday, National Bank of Greece (NBG), the
nation's largest bank by assets, got the go-ahead from 84
percent shareholder HFSF for plans to raise up to 2.5 billion
euros ($3.5 billion) to boost its core capital.
Eurobank said on Friday that about 10 percent of the new
shares will be offered to investors in Greece alongside the cash
call to international investors.
($1 = 0.7238 Euros)
(Reporting by Angeliki Koutantou; editing by Costas Pitas, John