ECONOMY

Orders for Greece’s Alpha Bank share issue said to total 2.5 bln euros

orders-for-greece-amp-8217-s-alpha-bank-share-issue-said-to-total-2-5-bln-euros

Orders for Alpha Bank's share offering to plug a capital shortfall reached around 2.5 billion euros ($2.7 billion), nearly 1 billion euros more than what it wants to raise, two sources at the bank told Reuters on Wednesday.

Alpha Bank, Greece's fourth largest lender, is aiming to raise 1.55 billion euros from private investors.

It is one of four banks that must plug an overall capital shortfall of 14.4 billion euros uncovered by the European Central Bank last month. [Reuters]