ECONOMY

NBG ex-rights June 14

National Bank of Greece (NBG), set for a 3-billion-euro rights issue to finance its acquisition of Turkish Finansbank, said yesterday its shares will trade ex-rights on June 14. Greece’s largest lender agreed in April to buy 46 percent of Finansbank for 2.3 billion euros as part of its regional expansion drive. NBG said the rights will trade from June 20 to 29, while subscriptions to its rights issue will run from June 20 to July 5. A total of 135,707,764 new common shares will be issued, on a four-for-10 offer at 22.11 euros each. The bank’s outstanding shares will total 474,977,176 after the rights offering, it said. Shares not taken up by rights holders will be privately placed in Greece and abroad by Citigroup, Credit Suisse, Goldman Sachs International and NBG International at a price not lower than 22.11 euros, the bank said. (Reuters)