Aspis Bank approves share capital increase plan

An Aspis Bank extraordinary general shareholders’ meeting on Thursday approved a board plan to raise 120 million euros through a share capital increase plan.

The meeting approved unanimously to reduce the bank’s equity capital by 135,175,153 euros with the aim to creating a special reserve, through cutting its nominal shares’ value from 2.71 euros to 0.60 euros per share.

Under the plan, Aspis Bank will issue 128,128,108 new common nominal shares (voting) of a nominal value of 0.60 euros per share to be offered to existing shareholders. The bank said the total sum to be raised may vary according to market conditions.