November 14, 2012 / 8:18 AM / 5 years ago

Austrian government to pump 500 mln euros into Hypo

VIENNA, Nov 14 (Reuters) - Nationalised Austrian bank Hypo Alpe Adria said it would raise 500 million euros ($636 million) by selling new shares to the Austrian government.

The bank, which was nationalised in 2009 to avert a collapse whose effects would have been felt throughout central and southeastern Europe, is scrambling to meet regulatory requirements to shore up its balance sheet.

Hypo said on Wednesday it would issue 204 million new shares, which only its sole shareholder, the Austrian government, would have the option to buy. ($1 = 0.7867 euros) (Reporting by Georgina Prodhan; editing by Jane Baird)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below