FRANKFURT, May 14 (Reuters) - Shares in German lender Commerzbank which are currently held by Germany’s bank rescue fund Soffin are being placed at a price range between 6.60-7.00 euros a piece, two people familiar with the transaction said on Tuesday.
Commerzbank declined to comment.
With the share placement, Soffin’s Commerzbank stake will be reduced to roughly 17 percent from 25 percent at present.
Soffin on Tuesday said it would place a stake worth about 625 million euros with investors, adding it expected the placement to be completed on May 15. (Reporting By Arno Schuetze and Alexander Huebner; writing by Edward Taylor)