ECONOMY

Greek regulator extends short-selling ban on Attica Bank

greek-regulator-extends-short-selling-ban-on-attica-bank

Greece's securities regulator said on Tuesday it will extend a short-selling ban on shares of small lender Attica Bank to January 24 as its recapitalization is still in process.

Short-selling involves investors borrowing shares to sell in hope of being able to buy them back later at a lower price.

Last month the Capital Market Commission lifted a short-selling bank on bank shares, imposed to avoid pressure on prices during the sector's recapitalization which was completed in November, but maintained it on Attica shares until January 11.

Attica Bank has raised 90.9 percent of the 749 million euros it sought to plug a capital shortfall identified in a stress test conducted by the country's central bank.

[Reuters]