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Abstract:ATHENS (Reuters) – Greek lender Pancretan Bank received shareholder approval on Thursday for a 98.7 million euro ($104.27 million) one-for-one rights issue and a name change to Candia Bank after its merger with small cooperative lender Chania Bank.
div classBodysc17zpet90 cdBBJodivpATHENS Reuters – Greek lender Pancretan Bank received shareholder approval on Thursday for a 98.7 million euro 104.27 million oneforone rights issue and a name change to Candia Bank after its merger with small cooperative lender Chania Bank.
Pancretan, which has a network of 54 branches mostly in Crete plus a small presence in Athens and Thessaloniki, will issue 78.96 million new common registered shares at 1.25 euros each.pdivdivdiv classBodysc17zpet90 cdBBJodiv
Before the rights issue the bank will proceed to a 10for1 share split, reducing the par value of its shares to 0.50 euros from 5 euros.
1 0.9466 euros
Reporting by George Georgiopoulos Editing by David Goodmanp
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