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Popular offers new share issue at 0.81 euros/share
November 10, 2012 / 9:46 AM / 5 years ago

Popular offers new share issue at 0.81 euros/share

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 0.81 euros per share, representing a 27.5 percent discount to Friday’s closing share price of 1.118 euros.

The price is a 52.3 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. ($1 = 0.7868 euros) (Reporting By Tomas Gonzalez and Tracy Rucinski; Editing by Toby Chopra)

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