Deals
Greek Piraeus Bank Eyes $1.2 Billion Capital Raise in March
- State fund wants its stake to fall below 30% from 61.3% now
- Hellenic Financial Stability Fund CEO speaks in interview
A Piraeus bank branch near Athens, Greece.
Photographer: Yorgos Karahalis/BloombergThis article is for subscribers only.
Piraeus Bank SA, Greece’s third-largest lender, is preparing for a capital increase next month that will reduce the state’s stake and represent a step toward normalization for the rescued lender.
The head of Greece’s bank recapitalization fund, which currently holds a 61.3% stake, said in an interview in Athens Tuesday that Piraeus would issue a prospectus this month and tap the market within the first quarter.