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FIG

KBC rallies after €1.25bn equity raise to repay state aid

KBC Group raised €1.25bn from an accelerated bookbuild of new shares on Monday in a deal that allows the Belgian bancassurer to repay some of its state aid before higher premiums kick in and meet a 10% Basel III capital ratio this year. Though priced with a big discount, the stock went on to perform strongly later in the week.

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