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KBC sells treasury shares, raises 350 mln euros
October 16, 2012 / 9:01 AM / 5 years ago

KBC sells treasury shares, raises 350 mln euros

BRUSSELS, Oct 16 (Reuters) - Belgian financial group KBC said on Tuesday it had sold 18.2 million of its treasury shares in a placement with institutional investors, generating gross proceeds of 350 million euros ($452.76 million).

The group said the sale added 0.3 percent to its solvency levels and added that its common equity ratio under Basel III was now expected to be 9.5 percent on a fully loaded basis at the end of 2013. ($1 = 0.7730 euros) (Reporting By Robert-Jan Bartunek)

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