December 10, 2012 / 6:24 PM / 5 years ago

KBC raises 1.25 bln euros at 21.25 euros per share

BRUSSELS, Dec 10 (Reuters) - Belgian bank and insurance group KBC said on Monday it had raised roughly 1.25 billion euros ($1.6 billion) through the sale of new shares at 21.25 euros apiece.

The company said earlier it was issuing the shares to shore up its balance sheet at the same time as paying back state aid to Belgium.

KBC shares, which were suspended from trading on Monday, closed at 23.465 euros on Friday. ($1 = 0.7736 euro) (Reporting By Ethan Bilby; Editing by Dan Lalor)

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