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Spain's BBVA says new shares issued at 8.25 euros each
November 20, 2014 / 9:03 AM / 3 years ago

Spain's BBVA says new shares issued at 8.25 euros each

MADRID, Nov 20 (Reuters) - Spanish bank BBVA said on Thursday it has set a price guidance on a 2-billion-euro ($2.50 billion) rights issue to fund the purchase of an increased stake in Turkey’s Garanti at 8.25 euros a share.

Spain’s second largest lender said on Wednesday it is raising its stake in Garanti, one of Turkey’s biggest lenders, in a deal that will give it control of the board.

The new shares represent 4.09 percent of BBVA’s capital before the issue and 3.93 percent after, the bank said in a statement to the stock market regulator. (1 US dollar = 0.7996 euro) (Reporting by Paul Day; Editing by Tomas Cobos)

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