articles | 25 August 2014

BoC gets €104m in offers for new shares

Bank of Cyprus (BoC) said recently it had received just over €100m in offers for shares from existing shareholders during the process known as the ‘clawback’.

The lender said it had received offers amounting to €103.9m, which represent 10.39% of the €1.0 billion new capital it raised in July.

Existing shareholders could apply for up to 20% in aggregate of the total number of shares offered to qualified investors in the first phase.

The minimum purchase per investor in the clawback was €100,000 and all existing shareholders were eligible to participate.

The capital raise is subject to shareholder approval in an EGM scheduled for next Thursday, August 28.

Source: Cyprus Mail

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