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BoC gets €104m in offers for new shares

August 22, 2014

BANK of Cyprus (BoC) said on Friday 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 per cent of the €1.0bn new capital it raised in July.

Existing shareholders could apply for up to 20 per cent 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.

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Source: Cyprus Mail

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