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HFSF announces Eurobank's 2-bln-euro share capital increase plan
A proposed share capital increase is a step forward towards a further strengthening of Eurobank’s capital base and enhances the bank’s ability to support the Greek economy, Hellenic Financial Stability Fund said on Thursday.
In a statement, HFSF said that the 2-billion-euro share capital increase plan will be made through the offering of new shares and noted that the Fund will examine the possibility of one or a group of institutional investors to buy a significant equity stake in the bank. The Fund also has the right to participate in Eurobank’s share capital increase plan.
Anastasia Sakellariou, chief executive of the Fund, said: “In continuation of our efforts to stabilize and strengthen our banking system, we announce the start of procedures for Eurobank’s share capital increase, which will allow a capital strengthening of the bank and its rapid return to the private sector. The Fund will make every effort for the success of the project and to contribute in a further strengthening of the Greek economy”.
Lazard Frures is acting as financial advisor to the Fund. Hellenic Financial Stability Fund owns 95.2 pct of Eurobank’s shares.
November 15, 2013
