ECONOMY

Eurobank share offering at just 0.01 euros/share

eurobank-share-offering-at-just-0-01-euros-share

Greece’s third-biggest lender Eurobank priced its share offering at 0.01 euros per share, or 1 euro per share after one-for-100 reverse share split, the bank said in a statement on Wednesday.

The share offering, to fill a 2.04-billion-euro capital shortfall revealed in a European Central Bank health check, was oversubscribed, the bank said in a statement.

Officials at the bank had told Reuters the orders reached 2.6 billion euros.

[Reuters]