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.
