ECONOMY

Piraeus Bank CoCos about to turn into shares

Piraeus Bank CoCos about to turn into shares

The conversion of Piraeus Bank’s contingent convertible bonds (CoCos) into shares will be at a price of 6 euros per share, Kathimerini understands.

This is going to cost the Hellenic Financial Stability Fund, the lender’s majority shareholder, some €1.5 billion, according to sources.

The share capital increase and the return of the lender to private hands is set to be completed within the year.