Commerzbank, Germany's second biggest lender, announced Tuesday it raised 1.4 billion euros ($1.5 billion) in a capital increase in a move to boost its financial buffers.
"Commerzbank today placed 113.9 million new shares with institutional investors by way of a so-called accelerated bookbuilding process," the group said in a statement.
"The placement price was fixed at 12.10 euros per share. The gross issue proceeds amount to a total of 1.4 billion euros," the statement said.
Following the completion of the capital increase, the bank's so-called Common Equity Tier 1 ratio -- a measure of its financial strength -- would rise to 10.2 percent, Commerzbank said.
Name (required) *
E-mail (required, but will not be published) *
Notify me of follow-up comments
Edin Dzeko hit his ninth and 10th league goals of the season as Roma stayed in hot pursuit of leaders Juventus with…
The facade of the world's tallest building, the Burj Khalifa in the Gulf emirate of Dubai, was lit up in pink Thursday…
It took just seven days for "Wizard of Oz" nostalgics to raise more than $300,000 in a crowdfunding drive to restore Dorothy's…
Powered and Developed by FilmMatters
Copyright © 2016 Arabtoday