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CORRECTED (OFFICIAL)-Popular offers new share issue at 0.401 euros/share
November 10, 2012 / 10:42 AM / 5 years ago

CORRECTED (OFFICIAL)-Popular offers new share issue at 0.401 euros/share

(Corrects throughout after bank released new issue price)

MADRID, Nov 10 (Reuters) - Spain’s Banco Popular said on Saturday it would offer a 2.5-billion-euro ($3.2 billion) new share issue at 0.401 euros per share, representing a 64 percent discount to Friday’s closing share price of 1.118 euros.

The price is a 76 percent discount to the 1.701 euros the shares closed on Sept. 28 when an independent audit of the Spanish banking sector identified a 3.2 billion euro capital shortfall at Popular, prompting its plans for a new share issue. (Reporting By Tomas Cobos and Tracy Rucinski; Editing by Toby Chopra)

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