ECONOMY

Vote on Alpha capital boost delayed

Alpha Bank shareholders will vote on a plan to boost capital through a rights offering and a convertible bond issue on July 4 after the necessary quorum was not met at an annual meeting on Tuesday.

Alpha Bank is seeking approval to raise up to 2.5 billion euros in equity and 350 million in convertible debt over the 12 months to boost capital adequacy and buy back preferred shares sold to the government.