Geniki Bank of Greece Plans EU431.3 Million Rights Offer

Geniki Bank (TGEN) SA, the Greek unit of France’s Societe Generale (GLE) SA, called a extraordinary shareholder meeting to seek approval to raise 431.3 million euros in a rights offer, extending 10.125 new shares for every 1 held at 40 euro-cents a piece.

The rights offer is part of a total 575.1 million-euro share capital increase, according to an Athens bourse filing today.

An extraordinary shareholder meeting will be held on Oct. 24 to seek approval, according to the filing.

To contact the reporter on this story: Natalie Weeks in Athens at nweeks2@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net

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