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Bank of Cyprus says raises 1 bln euros in private placement
July 28, 2014 / 8:42 PM / 3 years ago

Bank of Cyprus says raises 1 bln euros in private placement

NICOSIA, July 28 (Reuters) - The European Bank of Reconstruction and Development (EBRD) and U.S. investor Wilbur Ross are among investors participating in a 1 billion euro capital increase of Bank of Cyprus, the bank said on Monday.

The bank said the private placement was priced at 0.24 euro per share and investors from Europe, North America and Russia participated.

Bank of Cyprus said it would now move to a second phase of the capital raising, offering existing shareholders up to 20 percent of the amount of shares offered to investors in the private placement, and at the same price. The total capital raised would still be 1 billion euros. (Reporting By Michele Kambas)

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