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.