Marfin Popular says board OKs capital boost in Cyprus, Greece

Cyprus-based Marfin Popular Bank's board has approved plans to boost its capital with a 488.6 mln euro rights issue and a convertible issue worth up to 660 mln euros.
The rights would be issued at a ratio of one-for-two at 1 euro each, the Nicosia-based lender said in a statement.
The company said that represents a discount of 30% to its shares on November 1, when management took the decision.
The stock closed at 1.25 euros in Cyprus on Thursday.
The bank said the convertible capital securities would be placed with investors until the end of 2011. Both decisions were subject to approval from shareholders at a general meeting on November 18.