Shareholders claw back in full as Erste Group raises €660m

By Andrew Griffin
18 Jul 2013

Erste Group Bank completed a €660m capital raise on Thursday after an accelerated pre-placement helped to keep the share price strong throughout the subscription period, which in turn led to almost-full clawback of the portion that was not firmly allocated.

Shareholders took up 97.6% of their subscription rights. Erste Stiftung, among others, had waived its rights and it also provided some extra shares so investors in the ABB could have 50% of their allocation placed firm. It all meant that final clawback was the maximum, 50%.

Shareholders were offered ...

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