National Bank of Greece 2.5 bln euro share issue priced at 2.20-2.30 euros

National Bank of Greece will price its 2.5 billion euros ($3.48 billion) share placement at between 2.20 and 2.30 euros a share, two sources familiar with the transaction told Reuters.

The range for the over-subscribed issue was initially set at 2.00 to 2.60 euros, Reuters reported yesterday. The money is being raised to bolster NBG’s capital after stress tests earlier this year found the bank needed an extra 2.18 billion euros.

Shares in the bank, which is 84 percent owned by Greece’s bank rescue fund, were done 4.41 percent to 2.60 euros at 1129 GMT. Books on the capital raise will close later on Thursday. [Reuters]