Erste turns to rights issue to avoid more state aid

17 Nov 2009

Austrian lender Erste Group on Monday night priced its rights issue that raised Eu1.74bn.

The equity issue means the bank will not have to ask the government for help again.

Meanwhile, UniCredit shareholders on Monday approved plans for a Eu4bn right issue. The bank, which in May revealed that it planned to take government aid, will instead launch a capital increase in ...

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