BCP in first successful placement of Greek bank shares after recap

Economy

Portugal’s BCP (Banco Comercial Portugues) launched on October 29 an accelerated placement (to institutional investors only) disposing its entire stake in Greece’s Piraeus Bank. The announcement confirmed recent market rumours of an imminent placement of Piraeus shares held by BCP.

BCP’s shareholding of 235.3 million shares and warrants had resulted from its participation in Piraeus Bank share capital increase in July. At that time, BCP had subscribed for 400 million euros through a private placement with waiving of existing share...

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