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| Name | Symbol | Market | Type |
|---|---|---|---|
| Caixabank (PK) | USOTC:CAIXY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.12 | -6.78% | 1.65 | 1.65 | 1.70 | 1.74 | 1.65 | 1.68 | 64,815 | 20:52:17 |
From May 2019 to May 2024
By Jeannette Neumann
MADRID--Shares in CaixaBank SA (CABK.MC) were down 2.8% on Friday after the Spanish bank announced a capital raise to fund its takeover of Portugal's Banco BPI SA (BPI.LB).
CaixaBank sold 585 million shares, which represents 9.9% of its capital, to raise EUR1.322 billion ($1.48 billion), the bank said in a regulatory filing late Thursday night.
The sale price was EUR2.26 a share, a 3.67% discount to the closing price on Thursday.
The capital raise comes after shareholders of Portugal's BPI approved the removal of a voting rights cap on Wednesday, a condition for CaixaBank's takeover of the lender.
CaixaBank already owned about 45% of BPI but because of a 20% voting rights cap, the Spanish bank's control was hamstrung. After the removal, CaixaBank on Wednesday increased its offer for BPI to EUR1.134 a share, valuing the Portuguese lender at EUR1.65 billion.
Write to Jeannette Neumann at jeannette.neumann@wsj.com
(END) Dow Jones Newswires
September 23, 2016 04:18 ET (08:18 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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